Assessing Officer received AIR information that assessee had deposited substantial amount of cash in its bank accounts.   Assessing Officer issued reopening notice to assessee and made addition under section 68 of the Act. CIT(A) affirmed the addition. On appeal the Tribunal held that  the  assessee had submitted copies of bank statements during course of assessment proceedings.  It was also noted that AIR information relied upon for reopening case of assessee was incorrect in view of fact that assessee had deposited cash amounting to Rs. 14 lakhs instead of Rs. 17 lakhs in one of bank account as alleged by Assessing Officer. Since Assessing Officer failed to verify amount of cash deposited in bank from copies of bank statements duly furnished by assessee during course of assessment proceedings and had merely relied upon AIR information, there was non-application of mind by Assessing Officer. Since reasons recorded by Assessing Officer for reopening assessment were based on factual errors, reopening notice was void ab initio. (AY. 2011-12