2025 (3) TMI 1220

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....explanation regarding nature and source of the credit entries in the bank account was furnished with supporting documents in view of the Judgement in the case of N. Govindaraju Vs. ITO (2015) 60 taxman.com 333/233 Taxman 376/377 ITR 243 wherein the Hon'ble Karnataka High Court held as under: "If notice under section 148(2) of the Act is found to be valid, then addition can be made on all grounds or issues which may come to notice of Assessing Officer subsequently during course of proceedings under section 147 of the Act even though reason for notice for 'such income which may have escaped assessment may not survive." 3. None appeared on behalf of the assessee nor any adjournment was sought. The ld. DR was heard at length. Case re....

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....ndus Bank. The ld. CIT(A) has given a categorical finding which we reproduce as under for ready reference: "6. In the order u/s 143(3) 25.02.2014, the AO has admitted that Rs. 7,74,13,335 (Rs.6,19,31,108 according to the appellant) was received by the appellant as enhanced compensation and interest thereon on account of compulsory acquisition of property. The appellant made various investment out of this compensation which was credited in the Indusind Bank. These investments became the subject of reassessment proceedings. It is seen that the AO has not made any addition on account of any of the grounds for re-opening mentioned in Para 1 of the re- assessment order, accepting the submissions of the appellant filed during scrutiny pr....