TaxTMI 
TaxTMI 
2021 (4) TMI 987
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....case and in law, the Learned Commissioner of Income 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....
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....ross: Rs. 600,000 Less: 30% Standard Deduction) under the head income from House Property despite the fact that the same has 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 wh....
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.... was not reflected in the return of income and further the assessee company has claimed higher credit of Security Transaction Tax (STT) rebate u/s 88E of the Act. Therefore, the notice u/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 h....
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.... make re-assessment proceedings valid and it is only a mere change of opinion and relied on the judicial decisions and written submissions and prayed for allowing grounds of appeal of the Assessee. 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 me....
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....scaped assessment for any assessment year. 7. We find the AO has issued notice u/s 148 of the Act dated 22.03.2013 for reopening of assessment, whereas the original assessment was completed u/s 143 (3) of the Act determining the total income of Rs. 1,76,69,390/- on 26.08.2008. We observe that the AO has recorded the reasons without intangible information except retreating that the assessee has not disclosed the rental income from the property, but TDS credit is claimed and also higher rebate u/s 88E has been availed. Whereas the Ld. AR submitted that the said information was filed in the original assessment and referred to page 48 to 56 of the paper book. Further, the AO on verifying the facts and the explanations filed has passed the....