2019 (3) TMI 1659

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.... 1.1 On the facts and in the circumstances of the case and in law, the learned Commissioner of Income Tax (Appeals) [hereinafter referred to as 'the learned CIT (A)] erred in upholding the reassessment order passed by the Assessing Officer without appreciating that the reassessment is bad in law and void ab initio as it is based on conjectures and surmises without there being concrete reason that the income has escaped the assessment. 1.2 Without prejudice to the above, the learned CIT (A) erred in confirming the action of the Assessing Officer in considering the Appellants plea that the reassessment should be dropped u/s. 152(2) as even after considering disallowance of purchases the Appellant would not have been assessed to an am....

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....t in dispute, and, in response to our specific question, learned Departmental Representative specifically confirmed this position. 4. The short question that we need to address ourselves to is whether, on these undisputed facts, reopening proceedings, to assessee income escaping assessment, can be legally sustained. The authorities below have held that the impugned reassessment proceedings are valid and lawful. 5. Having heard the rival contentions and having perused the material on record, we find that the legal position is well settled, in this respect, by Hon'ble jurisdictional High Court's judgments in the cases of India Gelatine & Chemical Industries Ltd vs. ACIT (364 ITR 649), MottoTiles Pvt Ltd vs. ACIT (386 ITR 280) and PKM Advi....