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2023 (3) TMI 1105 - AT - Income TaxReopening of assessment u/s 147 - addition on all grounds or issues which may come to notice of AO subsequently during the course of proceedings u/s 147, even when the reason for the notice for "such income" which may have escaped assessment, may not survive - HELD THAT:- We are of the considered opinion that since the decision in Jet Airways India Ltd [2010 (4) TMI 431 - HIGH COURT OF BOMBAY] has been rendered by the Hon'ble jurisdictional High Court, therefore, the same is binding on us. In view of our aforesaid findings and respectfully following the decisions of the Hon‟ble jurisdictional High Court cited supra, we are of the considered opinion that in the present case, the Assessing Officer had no jurisdiction to make the addition under section 147 of the Act. As a result, the petition filed by the assessee under Rule 27 of ITAT Rules is allowed. Reopening of assessment u/s 147 - undisclosed income in bank in bank account - information received under the DTAA from the French authorities regarding the foreign bank accounts under Article 28 of the Indo-French Fiscal Convention Treaty held with the HSBC Bank, Geneva, Switzerland - HELD THAT:- As reassessment proceeding under section 147 of the Act was initiated to bring to tax the funds lying in various bank accounts, however, while passing the assessment order the Assessing Officer made the addition of the minimum balance required to open an account in HSBC Bank, Geneva. Thus, our aforesaid findings rendered shall apply mutatis mutandis. As a result, the petition dated 17/01/2023 filed by the assessee under Rule 27 of ITAT Rules is allowed.
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