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2021 (11) TMI 102 - AT - Income TaxReopening of assessment u/s 147 - Addition u/s 68 - assessee has failed to prove the genuine creditworthiness- HELD THAT:- The person approving the reasons recorded is the same officer i.e. JCIT, Range 32, New Delhi, who passed the assessment order in the case of the assessee for assessment year 2011-12. Thus, from the above it is apparent that the approving authority who passed assessment order for assessment year 2011-12 on 31.03.2014 approved the reasons recorded by the Assessing Officer i.e. ACIT, Circle 32(1), New Delhi, on or before 27th of March, 2014 stating that assessment order for assessment year 2011-12 has been passed is clearly a back dated reason recorded by the Assessing Officer and approved by the lower authorities. Such reasons do not have any legs to stand and further the approving authority also did not apply his mind at the time of approving the reasons. Thus, reasons were recorded on 27th of March, 2014 based on assessment order for assessment year 2011-12 which was passed only on 31.03.2014 clearly shows that as on the date of recording of the reasons the assessment order for assessment year 2011-12 did not exist at all. In view of this, we do not have any hesitation in quashing the re-assessment proceedings. Thus, without going into the merits of the above, we quash the re-assessment proceedings and the order passed by the ld. Assessing Officer for assessment year 2007-08. Accordingly, the additional ground raised by the assessee is allowed.
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