2026 (8) TMI 1461

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... as 'NFAC'], dated 17.10.2025, which in turn arises out of an order passed by assessing officer u/s. 143(3) r.w.s. 147 of the Act, dated 10.03.2016. 02. Brief fact of the case are that the assessee filed his return of income for A.Y. 2009-10 on 29.09.2009 declaring total income as NIL and agricultural income of Rs. 1,73,155/-. The assessee was engaged in the business of retail sale of sanitary ware. The case was selected for scrutiny under CASS for verification of the sale proceeds of immovable property. During the relevant year, the assessee sold an incomplete hotel building situated at Village Khicha, Taluka Dhari, constructed on 6,100 sq. mtrs. of land converted into non-agricultural land, for a consideration of Rs. 60,00,000/-. The a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 55,90,193/-, being the value of the construction as per the valuation report, as unexplained investment under section 69 of the Act for A.Y. 2008-09. Pursuant to the said direction, the assessment for A.Y. 2008-09 was reopened. After considering the material on record and the directions issued under section 144A of the Act, the AO concluded that the assessee himself had undertaken the construction of the unfinished hotel building during F.Y. 2007-08 and had made an unexplained investment of Rs. 55,90,193/- therein. The AO accordingly treated the said amount as unexplained investment under section 69 of the Act for the AY 2008-09. 03. The assessee, being aggrieved by the aforesaid order, preferred an appeal before the Ld. CIT(A), where a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s no power to give a direction to the Assessing Officer to reopen an assessment in respect of another assessment year. It was, therefore, submitted that the reassessment proceedings initiated pursuant to such an impermissible direction were without jurisdiction and the consequent assessment was liable to be quashed. 06. The Ld. DR, on the other hand, supported the orders of the lower authorities. However, he could not controvert the factual position that the reopening of the assessment for A.Y. 2008-09 was undertaken pursuant to the direction contained in the order of the Ld. CIT(A) passed in the appeal for A.Y. 2009-10. 07. We have heard the rival submissions and perused the material available on record. It is undisputed that, while ....