TMI Blog2011 (6) TMI 228X X X X Extracts X X X X X X X X Extracts X X X X ..... e jurisdiction to reassess issues other than the issues in respect of which proceedings are initiated but he was not so justified when the reasons for the initiation of those proceedings ceased to survive. - Thus, the questions in affirmative in favour of the assessee and against the Revenue and consequently dismiss the appeal. - ITA No. 40/2009 - - - Dated:- 3-6-2011 - MR. JUSTICE A.K.SIKRI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... passed u/s 143(3)/147 of the Income Tax Act, 1961? b) Whether ITAT was correct in law in holding that no addition could be made in re-assessment if no additions in respect of the grounds on which the proceedings u/s 147 were initiated had been made by the A.O.? 3. The assessee is a Member of National Stock Exchange and had filed its return of income on 30th November, 1998 for the assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fter recording reasons, that a notice under Section 148 was issued requiring the assessee to file its true and correct statement of income. The assessee filed reply stating that its return, originally filed, be treated in response to notice under Section 148. In response to notice under Section 143(2) books of accounts, vouchers and bills were called and verified from the return filed by the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ition made by the Assessing Officer. The assessee carried appeal before the Tribunal. 4. The Tribunal relied upon the case of ITO v. Smt. Darshan Kaur of the Amritsar Bench of the Tribuanl and also the case titled CIT v. Atlas Cycle Industries, 180 ITR 319 and CIT v. M.P. Iron Traders 189 CTR 154, holding that the assumption of jurisdiction to frame the assessment by invoking Section 147 of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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