TaxTMI 
TaxTMI 
2022 (2) TMI 79
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....sessees arise out of separate orders passed by the CIT(A) on 27-01-2021 in relation to the assessment year 2011-12. 2. The facts in the case of Saket Chakor Shah are that the assessee is an individual who filed his return declaring total income of Rs. 1,73,077. The return consisted of income from conducting tuitions and also carrying out the work of accounts writing. Thereafter, the AO initiated ....
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.... was offered in the revised return declared non est by the Revenue. The AO completed the assessment with the income of Rs. 48.73 lakhs declared in the return in response to notice u/s 148 of the Act, but treating the additional income as the one u/s 68 of the Act attracting higher rate of tax. The assessee challenged the assessment order before the ld. CIT(A) urging that re-assessment was invalid ....
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....s 68 or 69 etc. Since the assessee admittedly offered the income in his return pursuant to notice u/s 148 of the Act, which has been accepted by the AO as such, in my considered opinion, the ld. CIT(A) was not justified in countenancing the action of AO in treating additional income as unexplained cash credit or unexplained investment attracting sections 68 or 69 of the Act and consequently chargi....