TMI Blog2016 (7) TMI 821X X X X Extracts X X X X X X X X Extracts X X X X ..... edings initiated in the year 2011, who, in turn, stated that neither any order has been passed u/s 154 nor such proceedings have been dropped. This shows that the AO initially initiated rectification proceedings in the year 2011 and without completing the same, started re-assessment proceedings in 2013 and, thereafter, completed the assessment by means of order u/s 143(3) read with section 147. This manifests that during the continuation of the proceedings u/s 154, the AO embarked upon the same issue by means of a separate re-assessment proceedings without concluding the earlier proceedings initiated u/s 154. It goes without saying that initiation of two parallel proceedings on a similar subject matter, cannot sustain. If first proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om profession and capital gains. Return declaring total income of ₹ 8,39,253/- was filed on 31.10.2006, which was processed u/s 143(1) of the Income-tax Act, 1961 (hereinafter also called `the Act ). Assessment order u/s 143(3) of the Act was passed on 26.3.2008 determining total income at ₹ 8,56,753/-. The AO reopened the assessment by noticing that the assessee claimed credit for TDS against the current year s income on receipts of ₹ 4,47,600/-, which were not offered for taxation. Assessment was completed u/s 147/143(3), making total addition of ₹ 2,37,500/-. The assessee, inter alia , argued before the ld. CIT(A) that the AO had issued notice u/s 154 and hence the initiation of reassessment proceedings by means ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtilizer 40,000/- 5. Bharat Hydropower Corporation 18500/- Total 4,47,600/- The assessee neither at the time of filing return of income nor at any time of assessment proceeding have furnished the above information and thus failed to disclose fully truly all material facts. 5. It is noticed that the AO earlier issued notice u/s 154 dated 23.2.2011, a copy of which is available at page 25 of the paper book, indicating the mistake in the assessment order, which reads as under:- The CAG audit noticed that as per TDS certificates and bifurcation of the total professional receipts filed during ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to intimate the status of section 154 proceedings on the earlier date of hearing and the case was accordingly adjourned. Today, the ld. DR submitted in the open court that he enquired from the concerned AO about the status of section 154 proceedings initiated in the year 2011, who, in turn, stated that neither any order has been passed u/s 154 nor such proceedings have been dropped. This shows that the AO initially initiated rectification proceedings in the year 2011 and without completing the same, started re-assessment proceedings in 2013 and, thereafter, completed the assessment by means of order u/s 143(3) read with section 147. This manifests that during the continuation of the proceedings u/s 154, the AO embarked upon the same issue ..... X X X X Extracts X X X X X X X X Extracts X X X X
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