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2018 (2) TMI 1780 - HC - Income TaxReopening u/s 147 - basis of substantial evidence brought on record - Held that:- The impugned order holds that the order which was passed consequent to reassessment, has not confirmed the addition attributable to the reasonable belief of the Assessing Officer while issuing the reopening notice. The reassessment order has made an addition on an issue which is not a subject matter of the reasons recorded in support of the reopening notice as forming its reasonable belief that income chargeable to tax has escaped assessment The question as formulated becomes academic as our Court in Commissioner of Income Tax Vs. Jet Airways (I) Ltd. [2010 (4) TMI 431 - HIGH COURT OF BOMBAY] while examining Explanation 3 to Section 147 as held that the AO has to necessarily assess / reassess the income which escaped assessment on the basis of the formation of the reasonable belief for opening the assessment. It is only on assessing / reassessing such income which has escaped assessment in the reasons recorded, would it be open to the AO to assess / reassess any other income, which came to his notice during the reassessment proceedings. However, in the absence of reassessing the income which escaped assessment and which was the basis for formation of belief in issuing the notice, the order passed on reassessment is bad in law. No substantial question of law
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