High Court: Correct Assessment Year for Income Fixed as 2009-2010. Amount Cannot Be Added Back for Two Years.

The High Court determined that the correct assessment year for fixing the income of Rs.55,19,650/- was 2009-2010, as previously accepted by the assessing officer. The Court emphasized that the same amount cannot be added back for two separate years, leading to the dismissal of the appeal.

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Issues:
1. Correct assessment year for fixing the income of Rs.55,19,650/-
2. Whether the amount can be added back for two separate years

Issue 1:
The High Court addressed the issue of the correct assessment year for fixing the income of Rs.55,19,650/-. The assessee had claimed trading liabilities over several years, including the mentioned amount. Initially, the assessing officer added a sum of Rs.26,84,276/- as trade creditors. However, during the appeal process, a survey was conducted, and the Commissioner (Appeals) directed to substitute the amount of Rs.55,19,650/- for the assessment year 2006-2007. The Tribunal accepted the assessee's appeal, arguing that the assessment year could not have been changed by the Commissioner (Appeals) from 2009-2010 to 2006-2007. The High Court considered the revenue's grievance but noted that the assessing officer had already accepted the assessee's offer for the assessment year 2009-2010, adding back the same amount. Therefore, the Court concluded that no useful purpose would be served in considering the correct assessment year, as the same amount cannot be added back for two separate years.

Issue 2:
The second issue involved whether the amount of Rs.55,19,650/- could be added back for two separate years. The High Court observed that the assessing officer had already added back the same amount for the assessment year 2009-2010 based on the assessee's offer. Considering this, the Court concluded that it would not serve any purpose to deliberate on whether the amount could be added back for the assessment year 2006-2007 as well. Therefore, the appeal was disposed of accordingly, emphasizing that the same amount cannot be added back for two separate years.

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