2025 (8) TMI 128

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....ated 10-10-2023 in the matter of an assessment framed by Ld. AO u/s 143(3) r.w.s. 147 of the Act on 29-12-2018. The sole grievance of the revenue is deletion of addition of Rs. 465.16 Lacs. The assessee has filed cross-objection wherein the assessee questions the reassessment jurisdiction of Ld. AO. In this regard, Ld. AR relies on the decision of this Tribunal in M/s S.P.Singla Construction vs. DCIT (ITA No.514/Chd/2023 dated 02-01-2025). The copy of the same has been placed on record. The registry has noted delay of 187 days in assessee's cross-appeal which stand condoned. Having heard rival submissions and upon perusal of case records, our adjudication would be as under. Assessment Proceedings 2.1 The assessee being resident corpor....

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....nts to the suppliers were through banking channels. The assessee also raised various other arguments to assail the quantum addition on legal ground as well as on merits. The assessee's submissions were subjected to remand proceedings. 3.2 The adjudication of legal grounds is contained in para 6.2.3 of the impugned order. The Ld. CIT(A) held that information was a tangible material and Ld. AO was within his right to reopen the case on the basis of this information. At the time of issuance of notice u/s 148, it was not necessary for AO to establish beyond doubt that income had escaped assessment. At this stage, there should be prima facie reason to believe that certain income had escaped assessment. This condition was fulfilled. Accordingl....

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....-2016 on the basis of search proceedings. This assessment has been reopened by Ld. AO pursuant to receipt of information from the investigation wing that the assessee allegedly made bogus purchases from three entities as admitted by those entities during the course of certain proceedings in their respective cases. Armed with this information, Ld. AO formed an opinion of escapement of income and re-opened the case of the assessee. To verify the purchases, Ld. AO issued notices u/s 133(6) which remained unresponded to by these entities. However, the assessee, in support of impugned purchases, furnished various documentary evidences which include purchase invoices, ledger extracts, transport receipts and applicable forms under VAT showing move....