https://www.taxtmi.com/highlights?id=60810 Penalty u/s 271(1)(c) - Reopening of assessment u/s 147 - addition of unexplained investment in property u/s 69 - firstly the AO who records the reasons and issues a notice u/s 148 should be a Jurisdictional AO and secondly the assessment also has to be framed by the same AO who initiated the proceedings u/s 147, 148. - the assessment order passed by the ITO, Ward-2, Phagwara is without jurisdiction and the same is not in accordance with law, hence required to be quashed. - AT en-us Tue, 07 Dec 2021 09:18:36 +0530 Tue, 07 Dec 2021 09:18:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60810 Penalty u/s 271(1)(c) - Reopening of assessment u/s 147 - addition of unexplained investment in property u/s 69 - firstly the AO who records the reasons and issues a notice u/s 148 should be a Jurisdictional AO and secondly the assessment also has to be framed by the same AO who initiated the proceedings u/s 147, 148. - the assessment order passed by the ITO, Ward-2, Phagwara is without jurisdiction and the same is not in accordance with law, hence required to be quashed. - AT Highlights Income Tax Tue, 07 Dec 2021 09:18:36 +0530 https://www.taxtmi.com/highlights?id=60810