2025 (3) TMI 1895

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....ER PER RAJESH KUMAR, AM: This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the "Ld. CIT(A)"] dated 20.03.2024 for the AY 2008-09. 02. At the time of hearing, the ld. Counsel for the assessee pressed ground no.5, which is against the reopening of assessment u/s 147 of the Act after period of four years fr....

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....ding to the ld. AO remained unexplained u/s 68 of the Act. 04. Being aggrieved, the assessee preferred an appeal before the ld. CIT (A), who disposed the appeal on merits after taking into account the information/ documents available on record. 05. After hearing the rival contentions and perusing the materials available on record, we find that the case of the assessee has been reopened after....

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....ajor portion of such cash deposited which involves Rs. 3,47,15,685/- were transferred to the Hooghly Mills Co. Ltd. (PAN 111ct9708F) which is presently under this jurisdiction. Thus I have reason to believe that further investigation needs to be made on the basis of such information and accordingly notice u/s 148 may be issued in this case of the Hooghly Mills Co-Ltd. for the assessment y....

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....se, no reopening u/s 147 can be made. In our opinion this condition has not been satisfied, therefore, reopening of assessment has been made invalidly. The case of the assessee is squarely covered by the decision of decision of Hon'ble Apex Court in the case of ACIT Vs. CEAT Ltd. reported in [2022] 449 ITR 171 (SC), wherein similar ratio has been laid down by the Hon'ble Apex Court by hold....