TMI Blog2019 (6) TMI 917X X X X Extracts X X X X X X X X Extracts X X X X ..... jurisdiction. The mandatory conditions of Section 148 has not at all followed by Revenue. Therefore, the re-opening itself is void ab initio and does not survive. - Decided in favour of assessee. - I.T.A. No. 5322/DEL/2015 And C.O No. 10/DEL/2016 - - - Dated:- 4-6-2019 - SHRI G. D. AGRAWAL, VICE PRESIDENT AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER For The Appellant : Sh. N. K. Bansal, Sr. DR For The Respondent : Sh. R. S. Singhvi And Sh. Satyajit Goel, CA ORDER PER SUCHITRA KAMBLE, JM The appeal is filed by the Revenue and the Cross Objection is filed by the assessee against the order dated 29/05/2015 passed by CIT(A)-II, New Delhi for Asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in sustaining the reopening of the case u/s 147/148 of the Income Tax Act, 1961. 2. That initiation of reassessment proceedings are without any tangible material and even without approval of designated authority and as such reassessment proceedings are illegal and without jurisdiction. 3. Firstly, we are taking up the Cross Objection, as Ld. AR is challenging reopening u/s 147/148 of the Act. The assessee is a private limited company which was incorporated on 30.08.2006 and this is the first year of the company. The company was incorporated for carrying out brokerage activities relating to purchase and sale of shares. However, this being the first year, no such activity was carried out during the year. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd that before the approval of the CIT how notice can be issued by the Assessing Officer. Besides that in the reasons, the assessee s name has been entered at Page 2 of the reasons and the rest of the contentions set out by the Revenue are identical to the other group cases of Tarun Goel Group. Thus, the Ld. AR submitted that the initiation of reopening u/s 148 is itself bad in law. 6. The Ld. DR submitted that the reasons were properly recorded and the initiation of reopening is valid. 7. We have heard both the sides and perused the material available on record. From the records, it can be clearly seen that the notice has been issued prior to the approval. Thus, reopening u/s 148 is without the approval of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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