2025 (2) TMI 1452

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....ailed findings of the CIT(A) in upholding addition of Rs. 16,00,000/- and rejecting assessee's jurisdictional ground challenging validity of reopening of assessment. 3. The ld. AR of the assessee narrating facts of the case submits that the assessment for AY 2012-13 was completed u/s.143(3) of the Income Tax Act, 1961(hereinafter referred to as 'the Act') vide order dated 30.01.2025. The Assessing Officer (AO) completed the assessment making disallowance of expenditure Rs. 42,000/-. No other addition/disallowance was made by the AO. The assessee accepted the addition and made no further appeal against the said assessment order. Thereafter, on the basis of information received from DDIT (Inv.), the Assessing Officer reopened t....

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....rough banking channel. The said amount is reflected in bank account of assessee's proprietorship firm M/s. JM International. The remaining amount of Rs. 18,776/- was received by the assessee from M/s Astro Informatics by way of cheques on 26.05.2011. These amounts are duly reflected in bank statement at page 76 and 77 of the paper book. The assessee furnished all these details before the AO and the CIT(A), however, authorities below failed to appreciate the evidences furnished by the assessee and made addition of Rs. 16,00,000/-. 4.1. On legal issue of validity of reopening, the ld. AR of the assessee submits that a bare perusal of reasons recording for reopening would show that they have been recorded in a mechanical manner without ....

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....ture of purchase and sale of commodity (Badam and Cloves). The assessee had sold Badam and Clove against invoice to M/s Astro Informatics. The amount received against aforesaid invoices has been credited in the bank account of the assessee in two installments of Rs. 16,00,000/- and Rs. 18,776/-. Therefore, the reasons recorded for reopening in the instance case is contrary the facts on record. Therefore, I find merit in the submissions of assessee that reasons have been recorded by the AO in a mechanical manner without proper application of mind and appreciation of facts. The AO has merely on the basis of borrowed information from DDIT (Inv.) has recorded the reasons and has reopened the assessment. It is a well settled law that reopening o....