TMI Blog2022 (8) TMI 124X X X X Extracts X X X X X X X X Extracts X X X X ..... and on the basis of which no disallowance, save for Rs. 4,96,350, was made, i.e., with reference to the facts mentioned or found in sec. 201(1) order, there could be no valid reason to believe escapement of income in law, except of course where there is a change in law retrospectively or a judicial decision clarifying the law comes to the notice of the AO, impinging clearly on facts of the case. Needless to add, no such fact or statement of law is stated in the reason/s recorded, on the basis of which jurisdiction to reassess stands assumed by the assessing authority. Why, even the amount disallowed in assessment has been included as income escaping assessment. As fairly not disputed before us by the Ld. CIT-DR, it is in our view a clea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 350, being in respect of payment for training and refresher course without deduction of tax at source. Order u/s. 201(1)/201(1A) of the Act was also passed on the same day (i.e., 28/03/2014), holding the assessee as an assessee-in-default for Rs. 147.93 lacs on account of several payments (aggregating Rs. 1513.90 lacs) without or at short deduction tax at source, levying along with interest u/s. 201(1A) at Rs. 61.80 lacs (PB pgs. 46-55). The assessee, prior to it's assessment u/s. 143(3), received a notice dated 24/03/2012 in respect of each of these nine defaults listed in the s. 201(1) order dated 28/03/2014 (PB pgs. 40-41), which it responded to vide reply dated 27/03/2014, i.e., the date specified in the notice u/s. 142(1). The AO r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as challenged the legality of assessment order passed u/s. 147 r.w.s. 143(3) of the Act. The AO during the course of search assessment proceedings observed that the assessee has bogus transactions/investment with the dummy/bogus concerns. Therefore, notice u/s. 148 of the Act was issued on 29/03/2018 after recorded reasons for re-opening of the case. In reply various objections were raised by the Ld. AR of the appellant, however, the AO has disposed off all the objections raised by the appellant. Thus, the AO has followed due procedure before framing order u/s. 147 r.w.s. 143(3) of the Act and has also obtained necessary approval from concerned authorities. In view of the above, the plea raised by the appellant has not merits and is therefo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o disallowance, save for Rs. 4,96,350, was made, i.e., with reference to the facts mentioned or found in sec. 201(1) order, there could be no valid reason to believe escapement of income in law, except of course where there is a change in law retrospectively or a judicial decision clarifying the law comes to the notice of the AO, impinging clearly on facts of the case. Needless to add, no such fact or statement of law is stated in the reason/s recorded, on the basis of which jurisdiction to reassess stands assumed by the assessing authority. Why, even the amount disallowed in assessment, i.e., Rs. 4.96 lacs, has been included as income escaping assessment. 3.2. For the reasons afore-stated, fairly not disputed before us by the Ld. CIT-DR ..... X X X X Extracts X X X X X X X X Extracts X X X X
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