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TMI Blog2013 (2) TMI 238X X X X Extracts X X X X X X X X Extracts X X X X ..... ingh JUDGEMENT Per: Court: In this appeal by the revenue for the assessment year 19992000, the following question of law has been raised for our consideration. Whether on the facts and in the circumstances of the case and in law the Tribunal was justified in quashing the reassessment order made by the Assessing Officer by holding that the initiation of reassessment proceedin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... likely to increase by the same while computing the gains on account of slump sale. c) Consequent to the above reopening of assessment, the Assessing Officer by an order dated 27.03.2006 under Section 143(3) readwith Section 147 of the Act determined the income of the respondentassessee at Rs.31.26 lacs. However, while passing the above order on reassessment the ground on which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for which the assessment was reopened namely receipt of subsidy of Rs.40 lacs not been adjusted, was dropped during the reassessment proceeding as no addition on that account was made. The Tribunal following the decision of the Rajasthan High Court in the matter of Shreeram Singh, reported in 306 CTR page 343 held that where no addition is made on account of the reason recorded for reopening the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opped while passing the reassessment order dated 27.03.2006 under Section 143(3) read with Section 147 of the Act. Thus, in view of the decision of this court in the matter of Jet Airways (Supra), no occasion to entertain the proposed question of law arises. 4. Accordingly, the appeal is dismissed with no order as to costs. 5. In view of the above order passed by us on the appeal by the revenue, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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