2026 (8) TMI 203

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....ddition of Rs 5500000 u/s 68 - on account of Loan Received from loan creditors and Rs 504657 u/s 69A for interest on this loan 2) The Learned AO erred on facts, in law to reopen assessment u/s 148 without passing an order u/s 148A (d) of the Income Tax Act 1961. Though the AO has issued notices u/s 148A (b). 3) The Learned AO erred on facts, in law in passing assessment order u/s 147 without the prior approval of The additional Commissioner OR additional Directors OR Joint Commissioner OR Joint Director as required u/s 148B of the Income Tax Act 1961. 4) The Learned AO has not given opportunity to cross examine the deponent of the statement and also not provided copy of independent enquiry conducted by the AO and ....

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....the Income Tax Act 1961 is bad in law and required to be quashed. 9) The learned JCIT appeal has erred on facts, in law in rejecting appeal filed against rectification order passed u/s 154 on the ground that grounds of appeal are not in conformity with grounds of appeal of section 154. 10) Since the rectification order passed u/s 154 is merged with original order the Assessee has taken grounds of appeal same as that of grounds raised against the original order considering that this rectified order being final order the grounds are similar to that of original order except one loan creditor addition of Rs 20 Lakh which was missed by the AO at the time of framing original assessment order 11) The Assessee reserves ri....

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.... Ld.AO, assessee preferred appeal before Ld.CIT(A). 2.3. The Ld.CIT(A) after considering the submissions of assessee upheld the addition made by Ld.AO u/s 154 of the Act. Aggrieved by the order passed by Ld.CIT(A), assessee is in appeal before this Tribunal. 3. The primary grievance raised by the Ld.AR is with regard to the enhancement of the additions made by the Ld.AO while passing the order u/s. 154 of the Act without issuing any prior notice to the assessee. It was submitted that the impugned order has been passed in violation of the principles of natural justice and is contrary to the mandatory requirement of section 154(3) of the Act. Accordingly, it was contended that the order passed u/s 154 is liable to be quashed. 3.1.....