TaxTMI 
TaxTMI 
TaxTMI 
2022 (4) TMI 237
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....dingly the assessment order passed on the foundation of such notice is liable to be quashed and impugned order passed by the CIT (A) is bad both in the eye of law and on facts. 2. That without providing the complete details/documents to the appellant to enable the company to file objection as directed by the jurisdictional Hon'ble Delhi High Court in W.P.(C) 1357/2016 in case of Sabh Infrastructure Ltd. vs. ACIT on 25.09.2017, the assessment order passed by the Ld. AO u/s 147/143(3) is bad in law the CIT (A) has erred for not allowing this ground. 3. That the allegation of the AO that in view of above, it is clear that the source of credits (including cash deposit) were not verified any stage. Moreover, the assessee company has failed ....
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....sment proceedings as the AO has not applied his mind and not came to an independent conclusion that he has reasons to believe that income of the appellant company has escaped assessment which was a jurisdictional requirement for reopening of the assessment u/s 147/148 of the LT. Act. 6. That the Ld. CIT (A), has erred in upholding the assumption of jurisdiction for re-assessment. The re-assessment proceedings in this case were only based on presumption / suspicion and were thus not validly initiated. 7. On the facts and circumstances of the case and in law the AO was not correct and justified in initiating reassessment proceedings as there was no mention about existence of any tangible material in the reasons to believe formed by the ....
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....case and in law, the impugned addition made by AO is not sustainable as proper and reasonable opportunity was not provided to the assessee during the course of assessment proceedings. 12. On the facts and in the circumstances of the case and in law the CIT (A) was incorrect and unjustified to sustain the addition of Rs. 3,82,864/- out of Rs. 4,18,414/- by disallowing the expenses as no proof of payment of expenses given to this office without appreciating the enormous evidences filed and placed on record. The aforesaid addition is wrong, not based on evidence, opposed to evidences on records, based on the surmises and conjecture totally disregarding the facts of the case. 13. The applicant craves leave to make addition or alteration, i....
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....ded to make assessment u/s 147 of the Act. He further submitted that the AO did not provide documents to enable the assessee to file the effective objections for rebutting the information available with the AO. 7. Ld. Sr. DR opposed these submissions and supported the orders of the authorities below. He submitted that the objections of the assessee were duly considered and disposed off. He further submitted on spot, verification was carried out by the AO. He contended that upon verification, it was found that no business activity was being carried out by the assessee. Therefore, the AO had rightly disallowed the expenses. 8. I have heard the contentions of Ld. authorized representatives of both the parties and material placed on record an....
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....ong, however the addition has been made in respect of Share application money received i.e. in respect of unexplained cash credits. The Hon'ble jurisdictional High Court of Bombay in the case of "CIT vs. Jet Airways (I) ltd." (2011) 239 CTR (Bom) 183, has categorically held that the AO may assess or reassess the income in respect of any issue which comes to his notice subsequently in the course of the proceedings though the reasons for such issue were not included in the notice, however, if after issuing a notice under section 148, the AO accepted the contention of the assessee and holds that the income about which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is n....