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2023 (4) TMI 634 - AT - Income TaxReopening of assessment u/s 147 - addition u/s 68 - Addition made on amounts which did not form part of the reasons recorded for reopening - CIT(A) deleting the addition u/s 68 on concluding that when on the ground on which the reopening of assessment is based, no additions are made by the AO in the order of assessment, he cannot make additions on some other grounds which did not form part of the reasons recorded by him - .HELD THAT:- Assessee’s case was reopened on the basis of information relating to accommodation entry received from TVH Trading Company Pvt. Ltd. No addition was made in the assessment order on this account since the amount had already been added in the order u/s 153A. The addition was made u/s 68 in respect of the amount received from 5 persons which did not form part of the reasons recorded for reopening of the case Case laws in the case of Ranbaxy Laboratories Ltd. [2011 (6) TMI 4 - DELHI HIGH COURT] and case of Jet Airways (I) Ltd.[2010 (4) TMI 431 - HIGH COURT OF BOMBAY] are fully applicable and there is no infirmity in the well-reasoned order of ld. CIT (A). DR tried to submit that there are some other High Courts who have taken a contrary view. But, in our considered view, this is not an acceptable proposition in view of the decision of the Hon’ble jurisdictional High Court which is a binding. Hence, we uphold the order of ld. CIT (A). Decided against revenue.
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