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Bench: Shri Sunil Kumar Singh & Shri Brajesh Kumar Singh[Assessment Year: 2016-17]
2. Brief facts of the case:-The assessment in this case was reopened u/s 147 of the Act on the ground that the assessee had made cash deposits amounting to Rs.25,00,000/- and Rs.52,25,000/-in the accounts maintained with State Bank of India and HDFC Bank Ltd. respectively. The Assessing Officer also noted that the assessee