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Case Law Details

Case Name : Commissioner of Income Tax Vs M/s. Indo Arab Air Services (Delhi High Court)
Related Assessment Year :
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AO set out the information received from the ED, he failed to examine if that information provided the vital link to form the ‘reason to believe’ that income of the Assessee had escaped assessment for the AY in question. While the AO has referred to the fact that the ED gave information regarding cash deposits being found in the books of the Assessee, the AO did not state that he examined  the returns filed by the Assessee for the said AY and detected that the said cash deposits were not reflected in the returns.

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