Allowing the appeal the Tribunal held that it was duty of AO to verify facts before coming to conclusion that there is escapement of income on account of cash deposited in bank account of assessee.AO even did not verify information received from Investigation Wing and did not even obey directions of Investigation Wing. Mere cash deposited in bank account of assessee per se would not disclose escapement of income. Assessee further explained that there is no unaccounted investment. AO recorded incorrect and wrong reasons for reopening of assessment and did not apply mind to facts of case before recording reasons for reopening of assessment. Therefore order was quashed .  (AY.  2006-2007 , 2007-2008)