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2023 (9) TMI 1157 - AT - Income TaxReopening of assessment u/s 147 - addition was not made in respect of undisclosed in the assets of the assessee and AO made the addition in respect of loans - Assessee challenged the legality of the assessment framed on the ground that the additions as envisaged in the reasons recorded u/s 148 were not made in the assessment framed and therefore the AO has no jurisdiction to make other additions in respect of loans from two parties - HELD THAT:- AO has no jurisdiction to make any other addition when the issues which were subject matter of the reasons recorded of Section 148(2) of the Act were not added in the assessment order. The case of the assessee is supported by the decision of Coordinate Bench in the case of Shree Prakash Chhawchharia (HUF) [2021 (6) TMI 234 - ITAT KOLKATA] wherein the Hon'ble Coordinate Bench has held that the AO has no jurisdiction to make the addition in respect of any other item which were not the subject matter of the reasons recorded when the issues which were the subject matter of the reasons recorded u/s 148(2) of the Act were not added to the income of the assessee. We note that the Coordinate Bench has followed the decision of Hon'ble Calcutta High Court in the case of CIT Vs. M/S Infinity Infotech Parks Ltd [2014 (9) TMI 1142 - CALCUTTA HIGH COURT] on the same issue. The Coordinate Bench has also followed the decision of Hon'ble Bombay High Court in the case of CIT Vs. Jet Airways (I) Ltd.[2010 (4) TMI 431 - HIGH COURT OF BOMBAY] and Ranbaxy Laboratories Ltd. [2011 (6) TMI 4 - DELHI HIGH COURT] Therefore, respectfully following the ratio laid down by the Hon'ble Courts we are hereby quash the assessment framed by the AO u/s 143(3) r.w.s. 147 of the Act and accordingly, the additional ground raised by the assessee is allowed.
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