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of <h1>Reassessment under s.147 upheld as supported by tangible material and approved under s.151; undisclosed commission income sustained</h1> ITAT upheld the reassessment, finding that the AO's reasons for reopening under s.147 were supported by tangible material and duly approved by the ... Reopening of assessment u/s 147 - approval granted by the prescribed authority u/s 151 or not? - HELD THAT:- A perusal of the case file indicates that the learned assessing authority has duly taken into consideration the corresponding tangible material and his reasons had been further approved by the prescribed authority by detailed discussion in section 151 approval. That being the case find no merit in the assessee’s legal ground. Addition of commission income - It is made clear that the assessee had no where requested the departmental authorities for cross-examination of the said searched person. Nor did it ask for the corresponding seized material. Accordingly find no merit in the assessee’s latter substantive ground as well. Rejected therefore. Appeal against NFAC/ITBA order dated 21.10.2024 (proceedings u/s 147) challenges reopening under the 'section 148/147 mechanism' and the 'section 151' approval as allegedly mechanical and unsupported by 'tangible material.' Tribunal notes the assessing authority placed on record tangible material (pp. 23-26) and that the prescribed authority gave a 'detailed' section 151 approval; hence the legal ground that belief of escaped income was not formed is held to have 'no merit' and is 'Rejected accordingly.' On merits, assessee disputed addition of commission income of Rs. 5,05,000/-, asserting no proof of receipt; Revenue relied on survey at premises of a medical equipment supplier showing a commission arrangement and payment to the assessee. The assessee neither sought cross-examination of the searched person nor requested the seized material. Tribunal finds the substantive ground has 'no merit' and is 'Rejected therefore.' 'This assessee's appeal is dismissed.'
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