TaxTMI 
TaxTMI 
2026 (9) TMI 932
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....43(3) r.w.s 147 of the Income Tax Act [hereinafter referred as "the Act"]. 2. The brief facts of the case are that the assessee had filed her return of income for A.Y. 2012-13 on 30.07.2012 declaring income of Rs. 4,85,290/-. The case of the assessee was reopened on the basis of information received that assessee, as a co-owner, had sold a property for a consideration of Rs. 8.10 crores, the stamp duty value of which was Rs. 27,17,57,000/-. The assessment was completed u/s. 143(3) r.w.s 147 of the Act on 29.12.2016 at total income of Rs. 5,06,32,250/-, wherein addition of Rs. 4,88,67,000/- was made u/s 50C of the Act in respect of LTCG derived on sale of land. Another addition of Rs. 12,76,120/- was also made u/s 50C in respect of STCG d....
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....ings. 5. The assessee has also taken an additional ground which is as under: The Ld. CIT (A) erred on facts and in law in not quashing the re-assessment order made u/s 147 of the Act even though the addition made on the basis of reasons recorded for reopening has already been deleted and not challenged before the Hon'ble Tribunal and in such circumstances it was not open to the Assessing Officer to make additions on any other ground. Therefore, reopening made by issuing notice u/s 148 does not survive. 6. We will first adjudicate the additional ground taken by the assessee. We have heard Shri Sakar Sharma, the Ld. AR and Shri Amit Pratap Singh, the Ld. SR-DR on this issue. The undisputed facts of the case are that the AO ....