TaxTMI 
TaxTMI 
2023 (8) TMI 1059
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....ear 2015-16. 2. The assessee has raised the following grounds of appeal: "1. Order of the NFAC / Commissioner of income-tax (Appeals) is contrary* to law, facts and in the circumstances of the case. 2. The NFAC/ Commissioner of income tax (Appeals) erred in not cancelling the reopening and setting aside the reassessment order in toto. 3. The NFAC / Commissioner of Income tax (Appeals) ought to have appreciated that the assessment was reopened only for the purpose of determining the disallowance under section 14A. 4. In the order of the reassessment the Assessing officer has not made any addition to the original income determined. Hence the CIT(A) should have cancelled the reopening and set aside the order of reassessment. 5 The N....
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....D of I.T. Rules, 1962 to the file of the Assessing Officer, in light of arguments of the assessee and to decide the issue in accordance with law. 4. The case has been subsequently re-opened u/s. 147 of the Act for the reasons recorded, as per which income chargeable to tax had been escaped assessment on account of computation of disallowance u/s. 14A r.w.r. 8D of I.T. Rules, 1962. Therefore, notice u/s. 148, dated 24.03.2020 was issued and served on the assessee. In response, the assessee neither filed any return of income nor submitted details in respect of computation of disallowance u/s. 14A of the Act. Therefore, the Assessing Officer passed exparte assessment order u/s. 144 r.w.s. 147 of the Act on 21.09.2021 and assessed total income....
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....e quashed. 6. The ld. CIT-DR, Shri. R. Mohan Reddy, supporting the order of the CIT(A) submits that, the assessee neither appeared before the Assessing Officer nor filed any details to explain the case and further the assessee has not argued this issue before the CIT(A). Therefore, there is no merit in arguments of the assessee that re-opening of assessment is bad in law and hence, the grounds of appeal filed by the assessee should be rejected. 7. We have heard both the parties, perused materials available on record and gone through orders of the authorities below. As per provisions of 3rd proviso to section 147 of the Act, the Assessing Officer may assessee or reassess such income, other than the income involving matters which are the su....