TaxTMI 
TaxTMI 
2025 (6) TMI 1324
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....ntion to the additional ground raised vide application dated 29.04.2025 and submits that the additional ground is a legal ground, may be heard as a preliminary issue as it goes to the root of the matter. He submits that the assessee raised the same for the first time based on the same set of facts and no new set of facts are involved. He submits that this Tribunal has jurisdiction to entertain any legal ground for the first time and prayed to admit and adjudicate the said legal ground. 3. The ld. DR Ms. Deeptha, Addl. CIT reports no objection in adjudicating the legal ground. 4. Having heard both the parties, we note that as admitted by the ld. AR that the legal ground was not raised before both the authorities below and it is raised for ....
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.... India Engineering & Projects (P) Ltd. v. ITO 464 ITR 760 (Madras) and argued that in the present case since more than 3 years have elapsed, the approval was to be granted by the PCCIT, who is specified authority under clause (ii) of section 151 of the Act. Further, he submits that in the present case since approval was given by the PCIT-1, Chennai, who is not a specified authority as contemplated under section 151 of the Act, the reassessment made, is bad in law. The ld. AR prayed to allow the additional ground and quash the reassessment proceedings. 6. The ld. DR strongly relied on the order of the ld. CIT(A). 7. Heard both the parties and perused the material on record. We note that the assessee is an individual derives income under th....
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....0/- escaped assessment being the difference between actual sale consideration paid and sale consideration reflecting in the sale deed. He held Rs..93,00,000/- [Rs..1,40,40,000 - Rs..47,40,000] shall be chargeable to tax. The assessee objected to the reopening notice stating that the additional income declared vide return of income demonstrates that all the discrepancies highlighted by the Investigation Wing, including the issue under consideration. The Assessing Officer did not accept the submissions of the assessee and accordingly, he proceeded to add the said difference to the total income of the assessee. The undisputed facts being so, since the ld. AR advanced his arguments in legal issue, we deem it proper to adjudicate the legal issue....
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....nt proceedings, the reassessment order passed under section 147 r.w.s. 144 read with section 144B of the Act dated 25.05.2023, is liable to be quashed. 10. The Hon'ble High Court of Madras in the case of FIVES India engineering & amp; Projects (P.) Ltd. v. ITO (supra) held that clause (i) under section 151 of the Act is applicable for issuance of notice in those cases if less than three years have elapsed and clause (ii) under section 151 of the Act is applicable for issuance of notice in those cases if more than three years have elapsed. As discussed above, in the present case, notice under section 148 of the Act dated 30.06.2021 was issued after lapse of three years from the end of relevant assessment year, therefore, the provision of cl....