2026 (3) TMI 1116

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....ct and(ii)sustaining the addition u/sec 69A of the Act made by the Assessing Officer. 2. The brief facts of the case are that, the assessee company is engaged in the business of Barge Transportation charges, traders in Iron ore including export and cargo handling services from infrastructure facility developed under the Boot. The assessee has filed the return of income for A.Y. 2007-08 on 31.10.2007 disclosing a total income of Rs. 80,21,230/-. Subsequently the case was selected for scrutiny and the assessment was completed under section 143(3) of the Act on 29.12.2009 accepting the returned income. There was survey operations u/sec 133A of the Act on 22.09.2011 and as a result of survey the case was reopened u/sec 147 of the Act and ass....

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....ty of reassessment proceedings u/sec 147 of the Act and addition of unexplained money u/sec 69A of the Act and the CIT(A)has granted relief in other grounds of appeal and partly allowed the assessee appeal. Aggrieved by the order of the CIT(A), the assessee has filed an appeal with the Hon'ble Tribunal. 5. At the time of hearing, the Ld.AR submitted that the CIT(A) has erred in confirming validity of reassessment proceedings and addition of unexplained money u/sec 69A of the Act made by the Assessing officer overlooking the information of the proceedings. The Ld.AR mentioned that there is no justification to reopen the case by issue of notice u/sec 148 of the Act after expiry of 4 years period from the end of the assessment year and also....

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....he case was reopened u/sec 147 of the Act and assessment was completed u/sec 143(3)r.w.s147 of the Act on 28.03.2013 with the assessed income of Rs. 1,16,96,177/-.And again the case was reopened u/sec 147 of the Act and notice u/sec 148 of the Act was issued on 28.03.2014.We find that notice was issued within 6 years after the end of relevant asst. year A.Y. 2007-08, and the CIT(A) has considered the facts and provisions of section147 of the Act and upheld the validity of reassessment and accordingly, we do not find infirmity in the order of the CIT(A) on this disputed of validity of issue of notice u/sec 148 of the Act and uphold the same and dismiss this ground of appeal of the assessee. On the second disputed issue, the Ld.AR highlighted....