TMI Blog2014 (9) TMI 1023X X X X Extracts X X X X X X X X Extracts X X X X ..... Dated:- 30-9-2014 - SHRI H.S.SIDHU, J.M. AND SHRI J.SUDHAKAR REDDY, A.M. Appellant by:- Shri Amit Goel, C.A. Respondent by:- Sh. Sameer Sharma, Sr.D.R. ORDER PER J.SUDHAKAR REDDY, ACCOUNTANT MEMBER This is an appeal filed by the Revenue directed against the order of Ld.CIT(Appeals)-XIX, New Delhi dt. 21.4.2011 pertaining to the Assessment Year 2003-04 on the following grounds. 1. The Ld. CIT(A) has erred on facts and in law by deleting addition of ₹ 50,00,000/- made u/s 68 on account of unexplained receipts of share application money and share premium and of ₹ 75,000/- on account of commission payment to the accommodation entry providers, ignoring that: (i) The assessee failed to furnish th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(Appeal) erred in not holding that notice u/s 148 issued in this case was illegal, void, without jurisdiction and barred by limitation and accordingly assessment order passed on the foundation of such notice was liable to be quashed. 2. We first take up the jurisdictional issue raised by the assessee in the Cross Objection. 2.1. The assessee has challenged the validity of the reopening of the notice issued u/s 148 of the Act on the ground that the approval contemplated under s.151(2) was not complied with. He argued that from the AO s order, it is clear that prior approval of the Ld.CIT-VI, New Delhi was taken and whereas the approval should have been obtained from the JCIT as per the Act and not from the CIT. He further submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d forwarded to the CIT. The CIT examined the above recording of reasons and then mentioned Approval is accorded for reopening assessment of Sh. Vipin Khanna for A. Y. 2001-02 . 6. That sub-section (2) of Section 251 reads as under:- (2) In a case other than a case falling under sub-section (1), no notice shall be issued under section 148 by an Assessing Officer, who is below the rank of joint Commissioner, after the expiry of four years from the end of the relevant assessment year, unless the joint Commissioner is satisfied, on the reasons recorded by such Assessing Officer, that it is a fit case for the issue of such notice. [Explanation. - For the removal of doubts, it is hereby declared that the joint Commissioner, the Commis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent itself has been quashed. the consequential assessment orders passed for the above three years are also quashed. 9. As we have already quashed the assessment orders. the various grounds of appeal raised by the assessee against the additions made by the Assessing Officer need no adjudication. 4. In the case on hand we find that the Ld. CIT has granted approval and Ld. JCIT has not granted the necessary approval. Hence consistent with the view taken therein, we quash the reopening of the assessment as bad in law. In the result, the C.O. of the assessee is allowed. Since we have allowed the C.O. of the assessee, consistent with the view taken therein, we dismiss the Revenue s appeal. 5. In the result, both the Revenue s appeal is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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