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2019 (11) TMI 1748 - AT - Income TaxReopening of assessment u/s 147 - reassessment proceedings initiated to reassess other income - different items of income not connected or related with the reasons to believe - appellant-trust deposited/ invested money with its specified person - Assessee argued that addition made in the assessment order u/s. 143(3)/l47 on the basis of the reasons recorded was deleted by Ld. CIT(A) therefore, the other additions made in the said reassessment order which were not part of the reasons recorded for reopening the assessment are not sustainable in the eye of law - HELD THAT:- We note that in the assessee`s case under consideration, the assessment for A.Y. 2009-10 was completed u/s. 143(3)/11 of the Act on 01/03/2011. A notice under section 148 of the Act was issued on 22.03.2016 to reopen the assessment u/s. 147 of the Act. The only reason for issuing the said 148 notice as per Reasons Recorded dated 17.08.2016 was that income has escaped assessment for having deposited money with the specified person M/s. Nissan Developers &Properties Pvt. Ltd. We note that addition was deleted by ld CIT(A) and since AO has not issued a fresh notice under section 148 of the Act to reassess the other income therefore, the reassessment proceedings initiated by the assessing officer to reassess other income ( as noted by us above) is null and void in the eye of law, hence we quash the reassessment proceedings under section 147/148 of the Act. - Decided in favour of assessee.
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