AI Drafter 
TaxTMI 
TaxTMI 
2023 (3) TMI 411
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....arned Assessing Officer in re-opening of assessment under section 147 of the Act. 2. That The learned CIT(A) failed to appreciate that the reassessment notice is bad in law as the reasons to believe u/s 147 being based on the basis of borrowed satisfaction. 3. That The notice under section 148 dated 28.03.2018 is bad in law as the same has not been digitally signed. 4. That the assessment u/s 147 is without jurisdiction in so much so the sanction u/s 151 is mechanical and without application of mind. 5. That on the facts and in the circumstances of the case the learned CIT (A) was not justified in confirming the addition of Rs 4,50,000 as unexplained cash credit u/68 towards the Income of the appellant so....
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....the Act") and issued requisite notice u/s 148 of the Act after obtaining necessary approval from Ld.CIT(Exemption). In response to the notice u/s 148 of the Act, the assessee trust filed a letter dated 17.04.2018 and stated that return of income already filed on 23.09.2011 may be considered as the return of income filed u/s 148 of the Act. Thereafter, a notice u/s 143(2) of the Act was issued to the assessee. In response thereto, Shri. N.K.Mahajan, Chartered Accountant/Authorized Representative ("AR") of the assessee attended the assessment proceedings. The AO after considering the submissions of the assessee, treated a sum of Rs.4,50,000/- being the amount received as an accommodation entry and also payment of commission on this, amounting....
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....n entries from the entity related to Shri Pradeep Kumar Jindal. Therefore, in my considered view, the case laws relied upon by the Ld. Counsel for the assessee would not help hence, re-opening of the assessment is in accordance with law. Thus, Ground Nos. 1 to 3 raised by the assessee are dismissed. 10. Ground Nos. 5 to 8 raised by the assessee in this appeal are on merit of additions. 11. Ld. Counsel for the assessee reiterated the submissions as made in the written submissions. He submitted that the authorities below were not justified in deleting the addition. He submitted that the entire amount of Rs.4,50,000/- has been offered to tax and has been included in voluntary donation of Rs.7,00,000/-. He therefore, submitted that the au....
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....ld be income in the hands of the assessee. There was, therefore, full disclosure of income by the assessee and also application of the donations for charitable purposes. It was not in dispute that the objects and activities of the assessee were charitable in nature, since it was duly registered under the provisions of section 12A. [Para 11] For the aforesaid reasons, there was no merit in the appeal and no substantial question of law arose from order of the Tribunal. Therefore, the appeal was to be dismissed. [Para 12] b) ITA No. 4623/Del/2012(Assessment Year: 2009-10) Shree Shiv Vankeshawar Educational & Social Welfare Trust, Therefore on reading of the above decision of the honourable Delhi High Court it is clea....
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....ssessment null and void. The constitution bench in C.B. Gautam V Union of India -199 ITR 530- SC has held: " The observance of the principles of natural justice is the pragmatic requirement of fair play in action. " Reliance is also placed on the observations of the Hon'ble Supreme Court in the case of Kishinchand Chellaram V. Commissioner Of Income-tax, Bombay City-ii. 1980-(125)-ITR -0713 -SC wherein the court was dealing with the effect of not confronting the evidence & lack of cross examination. In a recent supreme court decision in the case of Andaman Timber Industries vs CCE Kolkatta Civil Appeal 4228 / 2006, the Hon'ble court has held: "Failure to give the assessee the right to cro....
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....e dismissed by this Hon'ble Bench. It is further requested that the arguments and case laws as discussed by the AO in the assessment order and his factual report .dated 13.9.2022 and that of Ld. CIT[A] may a kindly be treated as my argument during the present proceedings before your honour. Last but not least it worthwhile to note that as per Note sheet Page 4 of the Assessment Folder, copy attached, there was an offer from the AR of the assessee Shri N K Mahajan CA to tax the alleged amount of Rs.4,50,000/- and commission of Rs.11250/- on 10.12.2018." He pointed out that the assessee through its Ld.AR offered this amount for taxation. Now, the assessee cannot be allowed to take a different stand. 13. I have heard Ld. Aut....