2020 (6) TMI 244

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.... on similar facts and involve common issue, I am, therefore, proceeding to dispose them off by this consolidated order for the sake of convenience. 2. ITA No.328/PUN/2017 is an appeal by Shri Amit K. Gidwani for the A.Y. 2007-08. The assessee has raised the following additional ground: "Since the learned Assessing Officer has failed to make any addition on the ground on which the assessment was reopened, the impugned reassessment made by the learned Assessing Officer on other grounds which were not the subject matter of the reasons recorded for reopening of the assessment, the impugned reassessment order is bad in law and void ab initio and being without jurisdiction the same may please be annulled." 3. Since the additional g....

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.... is learned to be booked in the name of Shri Gajanan S. Koli, where apparently it is believed that Shri Sunil K. Gidwani, son of Kanyiyalal Gidwani, has lent finance to purchase the same. All payments for the same were apparently made through Gidwani Family's various bank accounts in which apparently cash amounts were deposited and the same were transferred into the accounts of Gidwani's wife, son and daughter-in-law in HDFC Bank at Worli. Thereafter the said amounts were apparently transferred into the account of M/s Jay Maharashtra CPL, HDFC Bank, Worli, in which Gidwani's sons are directors for making payments towards cost of the flats. Shri Amit Kanyiyalal Gidwani has been allotted flat in Adarsh CHS. He has paid an amount of Rs. 56,08,....

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..... On scrutiny of the assessment order, it transpires that the AO did not make any addition on this score. Thus, it is apparent that the AO did not make any addition on account of reasons which led to initiation of re-assessment proceedings. The Hon‟ble Bombay High Court in CIT Vs. Jet Airways (I) Ltd. (2011) 337 ITR 236 (Bom) has held that AO cannot proceed with re-assessment if grounds mentioned in re-assessment notice are non-existent i.e. if no addition is made on the basis of the grounds which led to the initiation of re-assessment. Similar view has been taken by Hon‟ble Delhi High Court in CIT Vs. Cheil Communications India Pvt. Ltd. (2013) 354 ITR 549 (Del). It has been brought to my notice that Pune Benches of Tribunal in....