TMI Blog2022 (4) TMI 237X X X X Extracts X X X X X X X X Extracts X X X X ..... LP filed by the Revenue. Therefore, the decision of the Division Bench of the Tribunal rendered in the case of Lark Chemicals Pvt. Ltd. vs CIT [ 2015 (2) TMI 1334 - ITAT MUMBAI] attained the finality. Assessing Officer is hereby directed to delete this addition. Thus, grounds raised by the assessee are allowed. - ITA No. 168/Del/2021 - - - Dated:- 1-4-2022 - SHRI KUL BHARAT , JUDICIAL MEMBER Appellant by : Shri S.C.Verma, CA Respondent by : Shri Om Parkash, Sr.DR ORDER PER KUL BHARAT, JM : This appeal filed by the assessee for the assessment year 2016-17 is directed against the order of Ld. CIT(A)-44, New Delhi dated 24.02.2020. The assessee has raised following grounds of appeal:- 1. On the facts and circums ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rce might be other than assessee's own income. 4. That upon the facts and circumstances of the case, Notice issued u/s 148 is illegal, invalid, bad in law as the Notice u/s 148 is not the replacement/substitute of Notice u/s 143(2). Also Notice u/s 148 has been issued on the basis of report of investigation wing, Rohtak which is also not based on any direct and circumstantial evidences or on adverse material / documents / statement of anyone. The reopening of assessment u/s 147 is very potent power not to be lightly exercised. It cannot be invoked casually or mechanically. Assessment cannot be reopened either to verify the source of credit entries in the books of accounts of the previous year in which the time of issue of notice u/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... basis of further enquiry by the AO for the formation of the reasons to believe that income had escaped assessment in the appellant case. 9. That on the facts and circumstances of the case and in law the AO has erred in handed over the Assessment Order as well as the Demand Notice u/s 156 to the Postal authorities on 01.01.2019 to serve the same to the assessee company whereas Sec. 153 provides for the time limit for the completion of various assessments and reassessments up to 31st December, 2019 only. The order passed after the expiry of time-limits is time barred order and its validity is nullified and thus the order is considered to be void. 10. That no addition can be made in those cases where no addition has been made on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reafter, the case was re-opened by issuing notice u/s 148 of the Income tax Act, 1961 ( the Act ). In response to the notice, the assessee filed its return of income. Thereafter, the Assessing Officer ( AO ) proceeded to make disallowance of ₹ 4,18,414/- and assessed the income at ₹ 6,14,690/-. 4. Aggrieved against this, the assessee preferred appeal before Ld.CIT(A), who after considering the submissions, partly allowed the appeal, thereby he sustained the addition at ₹ 3,82,864/- and provided part relief to the assessee. 5. Now, the assessee is in appeal before this Tribunal. 6. Ld. Counsel for the assessee reiterated the submissions as made before the authorities below. He contended that as per reason recorded, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 198/- out of which ₹ 2,88,304/- in cash on account of salary paid, however, no proof was furnished. 9. Admittedly, in this case, no addition was made on the issue qua the assessment was re-opened. The assessee has relied upon the judgement of Hon ble Supreme Court rendered in the case of Pr.CIT vs Lark Chemicals Pvt. Ltd. [2018] 99 taxmann.com 312 (SC). Hon ble Supreme Court dismissed the SLP filed by the Revenue. Therefore, the decision of the Division Bench of the Tribunal rendered in the case of Lark Chemicals Pvt. Ltd. vs CIT in ITA No.2636/M/2013 order dated 06.02.2015 attained the finality. The Hon ble Division Bench of the Tribunal in para 10 of the order held as under:- 10. Even otherwise, in the case in hand, the issu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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