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2021 (2) TMI 669 - AT - Income TaxReopening of assessment u/s 147 - Addition of unexplained cash deposits in the bank account - HELD THAT:- On a conjoint reading of the 'reasons' along with the order u/s. 147 it is palpable no addition arising from the reasons for the reassessment was made. An altogether separate addition was made, which admittedly did not have any connection with the initiation of re-assessment. Hon'ble Bombay High Court in the case of CIT vs. Jet Airways (I) Ltd.[2010 (4) TMI 431 - HIGH COURT OF BOMBAY] has held that the AO cannot proceed with re-assessment if the grounds mentioned in re-assessment are non-existent i.e if no addition is made on that score. When I examine the factual scenario obtaining in the instant case on the touchstone of the ratio laid down by the Hon'ble jurisdictional High Court in the above decision, the inescapable conclusion which can be drawn is that the only addition made in the reassessment on a ground different from the one for which notice u/s. 148 of the Act was issued, lacks legality. The same is, therefore, deleted.
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