TMI Blog2008 (8) TMI 125X X X X Extracts X X X X X X X X Extracts X X X X ..... t is open to AO to complete the re-assessment proceedings, by finding some other income, to be liable to be subjected to tax – Held, no - Tribunal rightly quashed the reassessment and the consequential additions made therein - 68/06, 91/07, 133/07,134/07, 141/07 - - - Dated:- 21-8-2008 - SHRI N P GUPTA,J. and SHRI KISHAN SWAROOP CHAUDHARI,J. Mr. K.K. Bissa, for the appellant/petitioner. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion under Section 147? (ii) Whether on the facts and in the circumstances of the case the learned Tribunal was justified in quashing the reassessment and the consequential additions made therein holding that the passing of order under Section 143(3) read with Section 147 assessing the other income based on assessee's alleged statement before the DDIT because it did not form part of reasons recor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essing Officer to complete the re-assessment proceedings, by finding some other income, to be liable to be subjected to tax, which is found by the Assessing Officer, in the re-assessment proceedings, to have been required to be taxed in the original assessment. 3. In our view, this question cannot be said to be any more res-integra, in view of the judgment of this Court dt. 20.5.2008, rendered i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... "reason to believe" to be so, then only, in addition, he can also put to tax, the other income, chargeable to tax, which has escaped assessment, and which has come to his notice subsequently, in the course of proceedings under Section 147. To clarify it further, or to put it in other words, in our opinion, if in the course of proceedings under Section 147, the Assessing Officer were to come to c ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
