2024 (1) TMI 408 - AT - Income Tax

Addition made in the reassessment proceedings on account of profit on on-money receipt - CIT(A) deleted the addition - HELD THAT - CIT(A) has deleted the addition by following its earlier order in the quantum appeal against the assessment order passed u/s 143(3), whereby the addition made by the AO on account of profit on on-money receipt was deleted. Therefore, the addition made in the original assessment was deleted by the CIT(A) then the enhancement of the said addition in re- assessment proceedings would not survive and cover by the earlier order of the CIT(A). We further note that the appeal filed by the Department against the order of the CIT(A) arising from the original assessment u/s 143(3) was decided by this Tribunal vide 2023 (5) TMI 1285 - ITAT INDORE whereby the appeal of the Revenue was dismissed and the order of the Ld. CIT(A) was upheld. Thus, it is the matter of record that the addition made by the AO on account of profit on on-money receipt in the re-assessment proceedings is now covered by the order of this Tribunal in assessee s own case 2023 (5) TMI 1285 - ITAT INDORE CIT(A) has deleted the addition by following its earlier order against the original assessment order passed u/s 143(3) of the Act. Therefore, in view of the order of this Tribunal confirming the earlier order of the CIT(A) we do not find any error or illegality in the impugned order of the CIT(A) as the issue is now covered by the order of this Tribunal in assessee s own case.

Summary

Issues involved:
Two appeals by the Revenue and cross objections by two assessees against the orders of the Ld. CIT(A) for the assessment years 2014-15.

I.T.A.No. 232/Ind/2023:
- Issue: Addition of profit on on-money receipt made by the AO in reassessment proceedings.
- The AO made an addition on account of profit on on-money receipt based on the declaration of the assessee before the Settlement Commission.
- The Ld. CIT(A) deleted the addition, which was upheld by the Tribunal in a previous order.
- The Tribunal found no error in the CIT(A)'s decision as the issue was already covered by the Tribunal's previous order.

Cross Objection No.8/Ind/2023:
- Issue: Validity of the reassessment order.
- Since the merits of the addition in the Revenue's appeal were decided in favor of the assessee, the cross objection became academic and infructuous.
- The Tribunal dismissed the cross objection as it had become infructuous.

I.T.A. No. 233/Ind/2023:
- Issue: Addition of profit on on-money receipt made by the AO in reassessment proceedings.
- Similar to the previous appeal, the AO made an addition on account of profit on on-money receipt, which was deleted by the Ld. CIT(A) and upheld by the Tribunal in a previous order.

Cross Objection No.6/Ind/2023:
- Issue: Validity of the reassessment order.
- The grounds raised in the Revenue's appeal and the cross objection of the assessee were identical to those in a previous case.
- The Tribunal dismissed the appeal of the Revenue and the cross objection of the assessee as they were covered by the previous order.

In conclusion, both appeals of the Revenue and cross objections of the assessee were dismissed by the Tribunal based on the previous decisions and findings.