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2019 (8) TMI 705 - ITAT KOLKATARevision u/s 263 - reopening of assessment u/s 147 - addition u/s 68 - HELD THAT:- We are sufficient to establish the escapement of income of the assessee from the assessment and there was a valid reason for the AO to reopen the assessment to bring to tax the said escaped income. The refusal by the AO to rectify the mistake as pointed out by the assessee in the said letter also does not support the case of the assessee as the same was done by the AO by giving a valid reason that the mistake pointed out by the assessee not being apparent from record was beyond the scope of rectification u/s 154. As regards the contention of the learned counsel for the assessee that even the Ld. CIT vide his impugned order passed u/s 263 has held the order of the AO passed u/s 143(3)/147 as erroneous, we find that the error allegedly pointed out by the Ld. CIT in the order passed by the AO u/s 143(3)/147 is entirely on a different issue relating to the share capital and share premium received by the assessee during the year under consideration and there is nothing in the said order to show that the order of the AO was erroneous on the issue on which it was reopened relating to undisclosed service charges. We, therefore, find no merit in the case of the assessee that the reopening of assessment itself being bad in law, the assessment made by the AO u/s 143(3)/147 as well as the consequential order passed by the Ld. CIT u/s 263 are invalid. The assessee has challenged the impugned order passed by the Ld. CIT u/s 263 on various counts. At the time of hearing before us, the learned counsel for the assessee however has not raised any contention in support of the said ground raised by the assessee. As rightly submitted by the learned DR, a similar order passed by the Ld. CIT u/s 263 in the case of Rajmandir Estates Pvt. Ltd. [2016 (5) TMI 801 - CALCUTTA HIGH COURT] involving identical facts and circumstances was upheld by the Hon’ble Calcutta High Court. Although the learned counsel for the assessee has submitted that the decision of Hon’ble Calcutta High Court in the case of Rajmandir Estates Pvt. Ltd. (supra) relied upon by the learned DR in support of the revenue’s case is distinguishable on fact, he has not been able to point out any material distinction in the facts involved in the present case vis-a-vis the facts involved in the case of Rajmandir Estates Pvt. Ltd. (supra). As submitted by the learned DR, the SLP filed by the assessee in the case of Rajmandir Estates Pvt. Ltd. has already been dismissed by the Hon’ble Supreme Court. In the facts of the present case are considered in the light of the decision in the case of Rajmandir Estates Pvt. Ltd. (supra), we find that there is no infirmity in the impugned order passed by the Ld. CIT u/s 263 and upholding the same, we dismiss this appeal of the assessee.
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