TaxTMI 
TaxTMI 
2024 (1) TMI 843
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....t following the provisions/mandate of the section, which makes the order passed u/s 153A nonest, void abinitio, bad in law, the same deserves to be quashed. 3. On the facts and in the circumstances of the case the ld. CIT (A) has erred in not deciding regarding charging of interest u/s 234B. 4. On the facts and in the circumstances of the case the ld. CIT (A) has erred in not deciding the issue of penalty proceedings u/s 271AAC of the Act. The appellant craves leave to add, amend or withdraw any of the grounds of the appeal during the course appellate proceedings. All the grounds of appeal are independent and without prejudice to each other. 2. The brief facts of the case are that during the year under consideration the assessee is having income/loss from Hotel cum Restaurant business run under the name and style of M/s. Gupta Prime Resort Pvt. Ltd. The assessee has filed its original return of income for the assessment year 2019-20. A search and seizure action under section 132 of the IT Act, 1961 was carried out on 13.02.2020 at the residential and business premises of the assessee group and family members of i.e. Saini-Gupta-Jain-Malpani-So....
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....n BRGB OD 04/241 from Bimal Kumar Jain on 05.01.2019 duly recorded in books of accounts in Gupta Prime Resorts Private Limited. This amount is recorded in the Ledger a/c of Bimal Kumar Jain. It is also submitted that this amount of Rs. 2,36,000/- is appearing twice on this page 17 once on left side mentioned as (BRKGB) 2,36,000/- and on other side (right) mentioned as 2,36,000/- RTGS. Hence counted twice in the amount of Rs. 15,36,000/-. As regards Rs. 5,00,000/- this amount was estimated/approximate fund available from bank balance in BRGB OD 04/241 on 05.01.2019. Balance as on 05.01.2019 was Rs. 5,42,306.71 (OD limit - 1,50,00,000 - utilized OD limit 1,44,57,693.29. Copy of ledger account of BRGB OD 04/241 in Gupta Prime Resorts Private Limited is placed on record. As regards Rs. 5,000/- this amount was estimated/approximate fund available from bank balance in PNB CA 872 on 05.01.2019. Balance as on 05.01.2019 was Rs. 9,349.80. Copy of ledger account of PNB CA 872 in Gupta Prime Resorts Private Limited is placed on record. As regards Rs. 3,50,000/- this amount was estimated fund required from Director of the Company Shri Anoop Kumar Gupta. Cash balance ....
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....t cannot be read to confer jurisdiction on the AO where none exists. The said Section only protects return of income, assessment, notice, summons or other proceedings from any mistake in such return of income, assessment notices, summons or other proceedings, provided the same are in substance and in effect in conformity with the intent of purposes of the Act." 20. The Court further observed that Section 292B of the Act cannot save an order not passed in accordance with the provisions of the Act. As the Court explained, "the issue involved is not about a mistake in the said order but the power of the AO to pass the order." The ld. A/R relied on the following decisions : 1) Babbal Bhatia in ITA Nos. 5430 & 5432/Del/2011 dated 08.06.2018. 2) Zaheer Abdulhamid in ITA No. 862/Pune/2017 dated 31.08.2018. 3) Latif Ebrahim Patel in ITA No. 7097/Mum/2013 dated 23.03.2018. 4) Shamsher Singh Gill in ITA No. 2987/Del/2015 dated 28.02.2017. 5) Danveer Singh in ITA No. 4036/Del/2017 dated 14.12.2017. 6) Om Prakash in ITA No. 1325/Del/2011 dated 11.08.2016. 7) Sunil Vaid in ITA No. 2414/Del/2016 dated 30.12.2016. ....
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....2019 duly recorded in books of accounts in Gupta Prime Resorts Private Limited. In this regard our attention is drawn to the ledger account of Bimal Kumar Jain. It was also the case of the assessee that a sum of Rs. 2,36,000/- is appearing twice in the page no. 17 i.e. once on left side and other is on right side. Therefore, this amount of Rs. 2,36,000/- was counted twice in the amount of Rs. 15,36,000/-, although RTGS amount of Rs. 2,36,000/- was considered by the AO and was given relief but the another amount was wrongly added. The ld. A/R further categorically submitted that as regards Rs. 5,00,000/- this amount was estimated/approximate fund available from bank balance in BRGB OD 04/241 on 05.01.2019. Balance as on 05.01.2019 was Rs. 5,42,306.71 (OD limit - 1,50,00,000 - utilized OD limit 1,44,57,693.29. Copy of ledger account of BRGB OD 04/241 in Gupta Prime Resorts Private Limited is placed on record. As regards Rs. 5,000/- this amount was estimated/approximate fund available from bank balance in PNB CA 872 on 05.01.2019. Balance as on 05.01.2019 was Rs. 9,349.80. Copy of ledger account of PNB CA 872 in Gupta Prime Resorts Private Limited is placed on record. As regards....