2021 (4) TMI 987
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....Tax (Appeals) - 9. Mumbai ["the CIT(A)"] erred in confirming the order passed by the Assistant Commissioner of Income Tax - 4 (3), Mumbai ["the AO"] u/s 143 (3) r.w.s. 147 of the Income Tax Act. 1961 ["the Act" for short] in gross violation of the principles of Natural Justice since the same is passed in ignorance of the relevant and material considerations and evidences as furnished by the Appellant. ON JURISDICTION: 2.1 In the facts and circumstances of the case and in law, the assessment order passed by the AO u/s 143(3) r.w.s. 147 of the Act and as affirmed by the CIT(A) is had in law and void for want of jurisdiction and therefore deserves to be quashed. 2.2 In the facts and circumstances of the case and in law, the re-assessment....
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....as already been taken into consideration by the Appellant while computing its taxable income under the Act. 3.2 While doing so, the Ld. CIT(A) failed to appreciate that: (a) the said Rent income of Rs. (600,000/- has already been offered to tax under the head Profits and Gains of Business and Profession while computing the taxable income of the Appellant; (b) Adding the said amount again would lead to double taxation of the same income and; (c) In any case, the business income of the Appellant would have to be reduced by an amount of Rs. 600,000/- pursuant to the re-assessment order which would in fact reduce the taxable income of the Appellant. 4.1 In the facts and circumstances of the case and in law, the Ld. CIT(A) erred in not....
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..../s 148 of the Act was issued. In compliance, the assessee filed the return of income on 22.03.2013 with the total income of Rs. Rs. 1,61,20,974/- and the assessee requested for providing reasons for reopening of assessment. The assessee has raised objections on the reasons and the A.O. has disposed of the objections on 16.12.2013. Further the A.O. has dealt on the allowability of rebate u/s 88E of the Act and the assessee has filed detailed explanations vide letter dated 23.11.2013 referred at para 4 of the assessment order. Similarly the assessee has filed explanations on the rental income and its set off against the rent payable. But the A.O. found the explanations are not satisfactory and made addition of Rent after allowing deduction ....
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.... Contra, the Ld.DR relied on the order of the A.O. and submitted that re-assessment proceedings are valid. 6. We have heard the rival submissions and perused the material on record. The Ld. AR argued on validity of issue of the notice U/sec148 of the Act. Therefore we considered it appropriate to first to deal on the validity of reassessment. The Ld.AR emphasized that the AO has issued notice on the same set of facts which are available on the record in the original assessment and no new material is available for re-assessment and it is only mere change of opinion. We find the assessee is a public limited company and the Books Of Accounts are Audited under the provisions of Companies Act and the Income Tax Act. The Ld. AR of the assessee h....