2025 (4) TMI 1364

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....Act, 1961 ("the Act"). In both these Petitions the issue involved is common and therefore, by consent of the parties, they are being disposed of by a common order. We take the lead matter in Writ Petition No. 1233 of 2016 for assessment year 2008-09. 3. The reasons recorded in reopening the case for assessment year 2008-09 are read as under : The information was received from Dy. CIT 28(3), Mumbai that the assessment in the case of M/s Sai Shirdi Constructions for A.Y. 2011-12 was completed on 27.03.2014. The assessee is into the business of building constructions. The assessee was constructing a project named "Sai Saakshaat" Plot No 9, Sector 6, Near Regency Gardens, Kharghar, Navi Mumbai. A total of four wings of 15 floors eac....

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....t Petition, was issued on 27 March 2015, which is after a period of four years from the end of the relevant assessment year. 6. In the reasons recorded, it is alleged that the Petitioner has received cash for sales relevant to assessment year 2008- 09 to the tune of Rs. 82,16,705/- as per the assessment order 2011-12, which have not been shown by the assessee in return of income for assessment year 2008-09 and therefore, the case is reopened. 7. On a perusal of the assessment order dated 27 March 2014 for assessment year 2011-12, an addition of Rs. 8,83,43,028/- is made on the ground of alleged cash received on sale of flat. The breakup of said amount of Rs. 8,83,43,028/-can be found in the assessment order at internal page 9 to 12 an....