2022 (2) TMI 497

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....er under the facts and circumstances of the case the learned Tribunal is correct in ignoring the jurisdiction question of law that so raised questioning the power of initiation of proceeding u/S. 147 of the Act particularly when the statutory time limit for initiation of Regular assessment has not been expired? 2. Whether under the facts and circumstances of the case the learned Tribunal is justified in confirming the additions made in A/y 2004-05 by the 'fora' below particularly when the said disputed income belongs to the previous assessment years? 3. Whether under the facts and circumstances of the case the learned Tribunal is justified in confirming the addition made u/S.68 of the Act particularly when the books of accounts maintain....

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.... by his counterpart before the ITAT was a mistake. This Court finds that no application was filed by the Appellant under Section 254 of the IT Act for rectification of the order. No review petition was even filed. In the circumstances, the Court does not permit the Appellant at this stage to take the above plea. 6. With the Appellant having given up the plea regarding Section 147 of the IT Act before the ITAT the Court decides that issue in favour of the Department and against the Appellant. As regards issues 2, 3 and 4, these pertain to merits of the case. The total additions made by the Assessing Officer (AO) to the taxable income of the Appellant Assessee was Rs. 9,41,000/- which was treated as 'unexplained' investment. 7. It must be n....