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2020 (10) TMI 556 - ITAT PUNEValidity of reopening u/s 147 - addition u/s 2(22)(e) and unexplained cash credit u/s 68 - HELD THAT:- In the present case were reopened by the Assessing Officer for bringing to tax the income on account of deemed dividend u/s 2(22)(e) of the Act that had allegedly escaped assessment as is evident from the reasons recorded by the AO, but no addition was finally made by the AO in the assessments u/s 143(3) r.w.s. 147 for both the years under consideration u/s 2(22)(e) and the addition was made only on the issue of unexplained cash credit u/s 68 which did not form the basis of reasons recorded by the Assessing Officer for reopening of the assessments for both the years under consideration. If these facts of the case, which have remained undisputed or uncontroverted by the ld. DR, are considered in the case of CIT vs. Jet Airways (I) Ltd [2010 (4) TMI 431 - HIGH COURT OF BOMBAY] we find merit in the contention of assessee that it was not open to the Assessing Officer independently to make addition u/s 68 in the assessments completed u/s 143(3) r.w.s. 147 for both the years under consideration and the assessments so made by him without satisfying the requisite condition are liable to be cancelled being bad in law. - Decided in favour of assessee.
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