YASHODA SHIVAPPA NAGANGOUDAR Vs. INCOME TAX OFFICER, MUMBAI

JUDGEMENT

(1.) Petitioner received a notice dtd. 16/3/2019 under Sec. 148 of the Income Tax Act, 1961 (the Act) for A.Y. 2012-13. According to respondents they had reasons to believe that petitioner's income chargeable to tax for A.Y. 2012-13 has escaped assessment. The reasons for re-opening is annexed to the petition. The reasons indicate that respondents have information that petitioner has deposited Rs.13,40,000.00 in cash during F.Y. 2011-12. Notwithstanding that petitioner has not filed return of income for A.Y. 2012-13. Therefore, the income chargeable to tax amounting to Rs.13,40,000.00 has escaped assessment due to failure on the part of the petitioner to disclose fully and truly all material facts for his assessment.

(2.) Petitioner filed objections dtd. 10/10/2019 to the reopening of assessment. In that petitioner has explained as under :

(3.) We have also considered bank statement which does not show any cash deposit of Rs.13,40,000.00. It only shows cash deposits of Rs.18,000.00. In the order dtd. 6/11/2019 disposing the objections respondents admit and accept that there were cash deposits of only Rs.18,000.00 and not Rs.13,40,000.00 as alleged in the reasons for re-opening. But according to respondents there were deposits/credits to petitioner account other than in the form of cash, i.e., total credits of Rs.18,81,092.00 (cash and non cash) and therefore as no return of income was filed to show such credits it remained unexplained.