TMI Blog2014 (8) TMI 1020X X X X Extracts X X X X X X X X Extracts X X X X ..... osition as discussed the assessment proceedings in consequence of reopening u/s.147 were bad in law and cannot be sustained and are accordingly set aside. - Decided in favour of assessee - I.T.A. No. 4821/Mum/2011 - - - Dated:- 27-8-2014 - SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI SANJAY GARG, JUDICIAL MEMBER For the Appellant: Shri R. I. Choksey For the Respondent: Shri Kishor Dhule O R D E R Per Sanjay Garg, Judicial Member : The present appeal has been preferred by the assessee against the order of the Commissioner of Income Tax (Appeals)-29, Mumbai ('CIT(A)' for short) dated 21.03.2011. The assessee has raised as many as four grounds of appeal. Through the first ground, the assessee has agitated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... compensation has not been finally determined by the court and there was likelihood in the appeal, such amount may be taken away or reduced. However, the A.O. observed that the assessee was liable to pay tax on the enhanced compensation received, which she did not pay. Hence, he was of the view that the income of the assessee had escaped assessment. He, accordingly, reopened the assessment u/s.147 of the Act and confirmed the additions on account of enhanced compensation received by the assessee. The ld. CIT(A) upheld the additions made by the A.O. The assessee is, thus, in appeal before us. 3. In the first ground of appeal of the assessee has raised the contention that no notice u/s.143(2) was issued to the assessee under the reopened as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #39;ble Delhi Tribunal in the case of Kuber Tobacco Products (P) Ltd. (supra) has summarized the legal position as under: (i) Section 292-BB even if it is procedural it is creating a new disability as it precludes the assessee from taking a plea which could be taken a right, cannot be construed retrospectively as the same is made applicable by the statute w.e.f 1.4.2008. (ii) Section 292-BB is applicable to the assessment year 2008-09 and subsequent assessment years. Further, the Hon'ble Jurisdictional High Court of Bombay in the case of CIT Vs. Mr. Salman Khan in Income Tax Appeal (L) No. 2362 of 2009 dated 1.12.2009 has categorically held that sections 292-BB 292-B of the Income Tax Act have been amended from 1.4.2008 a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
