TMI Blog2023 (6) TMI 1275X X X X Extracts X X X X X X X X Extracts X X X X ..... arty. AO examined that particular issue and made addition in respect of the said entry received by the assessee. The issue relating to any other transaction was not the subject matter of the reassessment proceedings. Assessment in this case was reopened to examine a particular issue and that issue was examined by the Assessing Officer and the addition was made and ultimately the matter was settled by the assessee by availing Vivad Se Viswas Scheme. The items/issue on which the PCIT has sought to revise the order were not the subject matter of the reassessment order, therefore, in the light of the decision of Alagendran Finance Ltd [ 2007 (7) TMI 304 - SUPREME COURT ] it cannot be said that the reassessment order passed by the AO was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed on Singhal group of companies at Raipur, Chhattisgarh and statement of one Shri Vinod Kumar Jajoo was recorded by the investigation wing on 05.10.2017, wherein, he admitted of providing accommodation entries to various beneficiaries. As per the information, the assessee had received Rs. 10,00,000/- during the F.Y 2010-11 from M/s Manokamna Merchants Pvt. Ltd., one of the company controlled by the said Mr. Jajoo. Consequent to the said information, the assessment in the case of the assessee was reopened u/s 147 of the Act on the belief that the the aforesaid receipt to the extent of Rs. 10,00,000/- was unexplained income of the assessee which has escaped assessment. Since, during the assessment proceedings carried out u/s 147 of the Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... king additions on the aforesaid issues. He, therefore, held the assessment order passed u/s 147 of the Act as erroneous and prejudicial to the interest of the revenue and directed the Assessing Officer to pass a fresh assessment order after considering his above observations. Being aggrieved by the said order of the PCIT, the assessee has come in appeal before us. 4. We have heard the rival contentions and gone through the record. The ld. counsel for the assessee has submitted that, in this case, the original assessment/intimation u/s 143(1) of the Act was passed on 07.01.2012. A copy of the said order has been placed at page 34 of the paper-book. The reassessment order u/s 147 of the Act was passed on 05.12.2018 and thereafter the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntry received by the assessee. The issue relating to any other transaction was not the subject matter of the reassessment proceedings. The assessment in this case was reopened to examine a particular issue and that issue was examined by the Assessing Officer and the addition was made and ultimately the matter was settled by the assessee by availing Vivad Se Viswas Scheme. The items/issue on which the ld. PCIT has sought to revise the order were not the subject matter of the reassessment order, therefore, in the light of the decision of the Hon ble Supreme Court in the case of CIT vs. Alagendran Finance Ltd. (supra), it cannot be said that the reassessment order passed by the Assessing Officer was erroneous, therefore, the revision jurisdic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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