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TMI Blog2024 (11) TMI 685X X X X Extracts X X X X X X X X Extracts X X X X ..... 0-11. 2. The Revenue in appeal has assailed the order of CITA(A) on followings grounds: "1. The order of Ld. CIT(A) is not correct in law and on facts. 2. On the facts and circumstances of the case, the Ld. CIT(A) has erred in law on facts in its decision for quashing the assessment order u/s 147/148 r.w.s. 143(3) of the Income Tax Act, 1961. 3. On the facts and circumstances of the case, the Ld. CIT(A) has erred in deleting the addition of Rs. 28,00,32,120/- made by AO u/s 37 of the Income Tax Act, 1961." 3. Ms. Ritu Sharma, representing the department submits that the CIT(A) has erred in quashing assessment merely on the ground that reasons recorded for reopening the assessment do not indicate independent application of mind by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1-12. A specific query in respect of the payments made to Sahara Prime City Ltd. and Telestar Packaging P. Ltd., was raised by the AO, the assessee in response to the said query furnished all documentary evidences to substantiate transactions with the above mentioned parties. No expenditure was claimed by the assessee against these payments during the period relevant to assessment year 2010-11. Hence, there was no question of making disallowance in respect of said payments in the impugned assessment year. The very reason for reopening the assessment for AY 2010-11 is ill founded. 5. We have heard the submissions made by rival sides and have examined the orders of authorities below. The assessee/respondent filed its original return of incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of information received from the Investigation Wing. The section 147 of the Act mandates the Assessing Officer to record reasons to believe that any income chargeable to tax has escaped assessment. It is no more res intigra that borrowed satisfaction for reopening the assessment vitiates reassessment proceedings. A plain reading of the reasons recorded by the AO, unambiguously reflect that the AO has reopened the assessment based on the information received from the Investigation Wing of the Department. The "reasons to believe" are not of the AO. The assessment is liable to be quashed on this ground alone. We find no infirmity in the findings of the CIT(A) on this issue. We see no merit in ground no. 2 of appeal; hence, the same is dismis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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