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2021 (9) TMI 73 - ITAT HYDERABADValidity of reopening of assessment u/s 147 - period of limitation to reopen the assessment as barred by time - as contended that under the provisions of section 150(2) assessments for AYs 2010-11, 2011-12 and 2012-13 could not be reopened as on the date of passing the appellate order on 30/01/2020 - HELD THAT:- While disposing of the appeal, the CIT(A) may consider and decide any matter arising out of the proceedings, in which order appealed against was passed, even if such matter was not raised by the taxpayer before the CIT(A). As per section 251(1)(c) of the Act, “In any other case, he may pass such orders in the appeal as he thinks fit.” CIT(A) observed assessee has received an business receipts on account of sale of flats falling under its share. However, the assessee has not disclosed such transactions to the Income Tax Department by way of filing the return of income either within the due dates stipulated u/s.139(1) of the Act or belatedly uls 139(4) of the Act. On the other hand, it is also observed that the AO has not initiated the action in terms of sec. 147 of the Act, for other AYs 2010-11, 2011-12 and 2012-13 - income in respect of 14 flats ta be brought to tax in the hands of the assessee in the AY 2010-11,2011-12 and 2012-13 No infirmity in the directions of the CIT(A) u/s 150 of the IT Act for the AYs 2010-11, 2011-12 and 2012-13. Accordingly, we uphold the order of the CIT(A) and dismiss the ground No. 1 to 3 raised by the assessee in this regard. Computation of turnover arising on sale of flats for each of the AYs 2010-11, 2011-12 and 2012-13 - We direct the AO to examine the computation of turnover for the said AYs as disputed by the assessee.
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