In the result, the appeal filed by the assesee stand allowed

Bench: Shri Shamim Yahya & Shri Vimal Kumarm/S O.K. Auto Components Vs. Dcit, Circle-1, (P) Ltd., Haryana A-131, Sgm Nagar, Faridabad Haryana – 121001 (Pan: Aaac05770E) (Appellant) (Respondent)

unexplained investment. Notice u/s. 148A(b) of the Act was issued and duly served. In response to the same, the assessee had not filed any return of income. During the course of assessment proceedings, the AO issued notice u/s. 142(1) and show cause notice. In response to the same, the assessee has submitted partially details. AO completed the assessment