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2011 (3) TMI 718 - AT - Income TaxRe-assessment - under section 143(3) read with section 147 - Addition - unexplained cash credit under section 68 - the initiation of assessment proceedings in the present case was based on statement of Shri Swarn Singh Mor, which was available on record when the assessment came to be made originally under section 143(3) and there was no new material or information which had come to the possession of the Assessing Officer after the completion of the original assessment to justify the reopening - The reopening thus was based merely on a fresh application of mind by the Assessing Officer to the same set of facts and to the same material on record as was available at the time of completion of original assessment under section 143(3) - Held that the initiation of re-assessment proceedings in the present case itself was bad in law and the re-assessment completed by the Assessing Officer under section 143(3) read with section 147 in pursuance thereof is liable to be cancelled being invalid - Thus, the assessee in this appeal challenging the addition made by the Assessing Officer in the said assessment has become infructuous - Decided in favour of assessee.
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