SHRI NARESH KUMAR YADAV,LUCKNOW vs. INCOME TAX OFFICER- 1(5), LUCKNOW
In the result, the appeal of the assessee is allowed
ITA 186/LKW/2020[2011-12]Status: DisposedITAT Lucknow26 Jul 2022AY 2011-12
Bench: Shri. A. D. Jainassessment Year: 2011-12 Shri Naresh Kumar Yadav V. Ito-1(5) Vill. & Post Madiyaon Lucknow Lucknow Tan/Pan:Aebpy8040D (Appellant) (Respondent) Appellant By: Shri Prashant Kumar Verma, Advocate Respondent By: Shri Harish Gidwani, D.R. Date Of Hearing: 12 07 2022 Date Of Pronouncement: 26 07 2022 O R D E R This Is Assessee’S Appeal Against The Order Of The Ld. Cit(A)-1, Lucknow, Dated 11.10.2019, For Assessment Year 2011- 12, Raising The Following Original Grounds Of Appeal: 1. Because, The Whole Assessment Order Impugned In The Present Appeal Stands Wholly Vitiated As There Can Be No Reason To Believe That Income Has Escaped Assessment U/S 147/144 On The Ground Of Mere Cash Deposits In The Bank Account Amounting To Rs.12,98,000/- Therefore, The Entire Assessment Proceedings Are Liable To Be Held As Nullity & Without Jurisdiction. 2. Because, The Assessment Order Impugned In The Present Appeal Stands Wholly Vitiated As There Can Be No Reason To Believe On The Basis Of Air Information That Income Has Escaped Assessment U/S 147/144 On The Ground Of Mere Cash Deposits In Bank Account Amounting Rs.12,98,000/-. Therefore, The Entire Assessment Proceedings Are Liable To Be Held As Nullity & Without Jurisdiction.
For Appellant: Shri Prashant Kumar VermaFor Respondent: Shri Harish Gidwani, D.R
Section 147Section 148
37. The position under section 131(2), which relates to inquiry or investigation concerning agreement with a foreign country or specified territory and adoption by Central
Government, of agreements between specified associations for double taxation relief, is exactly similar to that of matters concerning section 131(1A). Under section 131(2) also, the Authority can exercise powers under section
