2017 (8) TMI 1314

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....king an addition of Rs. 24,57,627/- by taking recourse to the provisions of section 147 r/w sec.148 of the I.T. Act, 1961. 1.1 That the reassessment as framed u/s 143(3)/147 of the LT. Act is wholly illegal and without jurisdiction as the conditions laid down under proviso to section 147 for a valid assumption of jurisdiction have not been fulfilled. The Id AO has failed to bring any material on record that the alleged escapement of income was by reason of the failure on the part of the assessee to make a return u/s 139 or in response to a notice issued u/s 142(1) or section 148 or to disclose fully and truly all material facts necessary for his assessment. 1.2 That the reassessment as framed by the Id AO is wholly illegal....

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....accepting the Fair Market Value of the Property as on 01.04.1981 as applied by the Ld. AO. 3.1 That the Ld. CIT(A) has erred in law and on facts by not considering the valuation adopted by the Government approved valuer and rejecting the documents as brought on record by the Assessee, with no application of his mine and without assigning any rationale behind doing so. 4. That the Ld CIT(A) has failed to acknowledge that the said land was not covered within the purview of section 2(14)(iii)(b) of the I.T. Act, 1961 by merely noting that the land is situated within the municipal limits of Baghpat. 4.1 That Ld. CIT(A) has failed to acknowledge assessee's submissions, the case laws he relied on and the documentary....

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....4.07.2008, 11.02.2013, 23.05.2013 and 04,06.2013 and replies thereof were also filed by assessee dated 10.06.2008, 04.08.2008, 28.08.2013, 30.05.2013 and 06.11.2913. Thereafter, the AO issued notice under section 148 of the Income Tax Act, 1961 (hereinafter referred as the Act) dated 20.12.2013 and reasons recorded were provided to assessee on 23.01.2014, wherein, assessee filed objections to reopening of assessment dated 16.04.2014 and 26.05.2014. However, the AO failed to dispose of the objections vide a speaking order, however, AO merely rejects the objections so raised by assessee in final assessment order dated 15.11.2014 making an addition of Rs. 24,57,627/- passed u/s. 143(3)/147 of the I.T. Act, 1961 on account of deemed long term c....

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....e orders of the authorities below. I find that assessee vide ground nos. 1 to 1.4 has specifically challenged the proceedings so initiated under section 147 of the Act and more so, the non disposal of objections by the AO through a separate speaking order. Since the said ground is a legal in nature, therefore, the same should be decided first. 5.1 That after going through the paper book filed by assessee and assessment order passed by AO, it is apparent that assessee filed objections to reopening of assessment vide replies dated 16.04.2014 and 26.05.2014 (at pages 27 and 28-30 of paper book filed by assessee) and admittedly AO has not passed any speaking order against the said objections so filed by assessee, which is a mandatory require....