Tribunal held  that in the order-sheet the Assessing Officer mentioned that he received information against the assessee for cash deposit of Rs. 22,74,500 for which the assessee explained that the cash was deposited from sale of shoes in different towns. The Assessing Officer was satisfied with the explanation of the assessee. Thereafter, there was no noting on any of the order-sheets. The Assessing Officer in the reasons recorded for reopening of the assessment had not mentioned the order-sheet entries. Thus the Assessing Officer had recorded incorrect facts in the reasons for reopening of the assessment by concealing the order-sheet entries. If the Assessing Officer recorded incorrect facts in the reasons, reopening of the assessment would not be valid. For examining the validity of the reassessment proceedings, the reasons alone had to be considered. When the Assessing Officer records wrong facts in the reasons, the proceedings under section 148 would not be justified. Since the same Assessing Officer had recorded the order-sheet entries prior to reopening of the assessment, he was bound by his facts recorded in the order-sheet. When the Assessing Officer was satisfied that the cash deposit in the bank account pertained to sale proceeds of shoes, the cash deposit per se in the bank account would not disclose escapement of any income from tax. Thus, the Assessing Officer was not justified in reopening the assessment. The reopening of the assessment was wholly unjustified and bad in law and was liable to be quashed. Resultantly, the addition on the merits stood deleted. (AY.2010-11)