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Further, perusal of ITD database reveals that assessee had not filed his Income Tax Return for A.Y. 2010-11. As such cash of Rs. 21,50,000/- remains unexplained. Under such a situation I have reason to believe that income at least to the extent of Rs. 21,50,000/- has escaped assessment in the hands of assessee within the meaning of explanation 2(a) of section 147 of Income Tax Act, 1961."

7. A perusal of aforesaid reasons reveal that the AO has categorically mentioned that the assessee has not filed his Income Tax Return for AY 2010-11, as such cash of Rs.21,50,000/- deposited in the bank account remains unexplained. Under such situation the AO has reason to believe that income to the extent of Rs.21,50,000/- has escaped assessment. The assessee has placed on record a copy of acknowledgment of return of income for AY 2010-11 filed on 16.08.2010. The copy of said acknowledgment was also furnished by the assessee before AO, the AO in para 5 of the assessment order has taken note of the same. The relevant extract of the assessment order wherein the AO has recorded the fact of assessee filing return of income for AY 2010-11 is reproduced herein below:-