2023 (11) TMI 1379

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....nd in law, the Learned Assessing Officer (Ld. AO) and Learned Commissioner of Income Tax (Appeals), Delhi - 42 ["Ld. CIT(A)') erred both on facts and in law while making or confirming the additions made to the Appellant's income. The present appeal is being preferred on the following grounds. 1. Ground No. 1: Reassessment proceedings are bad-in- law 1.1. On the facts and in the circumstances of the case and in law, the Ld. AO has erred in initiating the re-assessment proceedings under the Act in respect of AY 2012-13, in the absence of any income escaping assessment. 1.2. On the facts and circumstances of the case & in law, the order passed by the Ld. AO is bad in law and void ab initio and therefore liable to be quashed. Th....

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....12 of the Income Tax Act, 1961 (the Act) read with Rule 115A of the Income Tax Rules, 1962 ("Rules'). 4.3. The Appellant prays that the capital gains ought to be assessed as income from long-term capital gains and the Ld. AO be directed to compute capital gains at Rs. 4,16,27,166 as per first proviso of section 48 and section 112 of the Act read with Rule 115A. 5- Ground No. 5: Credit of taxes deducted at source and self-assessment tax 5.1. On the facts and in the circumstances of the ease and in law, the Ld. AO erred in not giving credit for the taxes deducted at source amounting to Rs. 85,58,982 and self-assessment tax amounting to Rs. 3,49,141 while determining the tax liability under the Act. 5.2. The Appellant prays the cre....

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....ction 274 r.w. s. 271(1)(c) of the Act. 10. Ground No. 10: Initiating penalty proceedings under section 271F of the Act On the facts and in the circumstances of the case and in law, the Ld. AO erred in initiating penalty proceedings under section 271F of the Act. The Appellant craves leave to add to, omit or alter all or any of the above Grounds of Appeal before or during the hearing of aforesaid matter." 3. Facts giving rise to the present appeal are that, the case of the assessee was re-opened u/s 147 of the Income Tax Act, 1961 ("the Act" for short) after recording the reasons and seeking necessary approval, the reasons stated for reopening are that despite having taxable income during the concerned Assessment Year no return has b....

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...., additional evidences should not be admitted. 7. We have heard the rival submissions, perused the material available on records. We find that the Ld. CIT(A) has decided this issue by observing as under:- "11.4.1. The AO has raised objection to the admission of additional evidence on the ground that as per Rule 46A, additional evidence may only be accepted if there were any exceptional circumstances which prevented the assessee from filing the evidence during course of assessment proceedings. The AO has submitted that as per the facts and circumstances of the case, the appellant does not fulfill any of the conditions specified in Rule 46A as the assessee had been given enough opportunity of being heard and was not prevented by any suffic....