TMI Blog2014 (4) TMI 630X X X X Extracts X X X X X X X X Extracts X X X X ..... law and should have been annulled - The reasons advanced by the assessee are not acceptable – thus, the petition for condonation of delay in filing the C.O. by 109 days is rejected and the C.O. is unadmitted – Decided against Assessee. - ITA No. 178/Hyd/2011, C.O. No. 44/Hyd/2011 - - - Dated:- 20-2-2014 - Shri Chandra Poojari And Smt. Asha Vijayaraghavan,JJ. For thePetitioner : Sri Jeevan Lal Lavidiya For the Respondent : Sri A.V. Raghu Ram ORDER Per Chandra Poojari, AM: This appeal preferred by the Revenue is directed against the order of the CIT(A)-VII, Hyderabad dated 18/11/2010 for the assessment year 2002-03. The assessee filed C.O. against the said order of the CIT(A). 2. The revenue has raise the fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eized material to make this addition as unexplained credits to the capital account balance since this capital account was very much filed while filing the return of income, therefore, the Assessing Officer cannot make an addition about the issue which has already been accepted by the Department. It was contended that the opening balance after capital account was very much accepted by the Department when the original return of income was filed. It was submitted that even during the search operation, nothing incriminating is found to disturb the capital account balance since the same is accepted by the department in the past. It was, therefore, submitted that the Assessing Officer should have accepted the return of income filed. 5. After c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he order of the Assessing Officer and hence, the lower authorities have erred as they have looked the principle that the opening balance cannot be disturbed this year. The authorities can only reopen for the earlier year. We rely on the decision of ACIT Vs. Smt. N. Sasikala [2005] 92 TTJ (Chennai) 119 wherein it has been held as follows: 5..................The learned counsel for the assessee submitted that the assessee has filed the return of income for the AY 1991-92 along with cash flow statement and the statement of affairs. Cumulative cash balance was saved by the assessee over a period of time. The assessee explained the total assets and liabilities position and he further submitted that the assessee has also filed return of income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oss-Objector and therefore an assessment under the provisions of section 153A could not have been made in the hands of the cross-objector. 3. The CIT(A) failed to appreciate that once there is no search in the case of the cross-objector the very assessment made would be invalid as the same was not based on any material. The CIT(A) ought to have annulled the assessment as the same was made without jurisdiction. 9. On perusal of record, we find that there was a delay of 109 days in filing this cross objection by the Assessee. To this effect, the assessee filed an affidavit affirming the reasons therein for delay in filing this C.O., which are as follows: 2. The cross-objector received the notice of Department appeal along with grou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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