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2014 (4) TMI 742 - ITAT MUMBAIValidity of re-opening of assessment u/s 148 of the Act - Consideration in part received for construction of additional built up area - Held that:- The observation of the Tribunal for the purpose of deleting the addition in respect of the assessment year 2002-03 cannot be treated to be a ‘finding’ for reopening the AY 2001-02 as the appeal for assessment year has not been before the Tribunal for adjudication - the observation of the Tribunal that ‘the case of the assessee is to be brought to tax for assessment year 2000-01 and not assessment 2002-03 as done by the AO is incidental for holding the addition made in the year 2002-03 is not justifiable and the same cannot be the basis for having recourse to section 150 of the Act by holding it as ‘finding or direction’. The observation of the Tribunal does not require compliance by the authorities so far as the assessment year 2000-01 is concerned, taking recourse to section 150 of the Act by holding the same as ‘finding’ of the Tribunal is not legally tenable – Relying upon Rakesh N. Dutt Vs. ACIT [2007 (10) TMI 285 - BOMBAY HIGH COURT] - once section 150 of the Act is not applicable to the case of the assessee, the reopening of the assessment beyond the period of six years from the end of the relevant assessment year would be time barred - thus, CIT(A) is not justified in confirming the validity of the notice issued u/s 148(1) – the proceedings for re-opening of the assessment is set aside – Decided in favour of Assessee.
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