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TMI Blog2013 (3) TMI 35X X X X Extracts X X X X X X X X Extracts X X X X ..... t of companies from which amounts have been allegedly received, the name of the assessee has been shown. This means that the assessee received the received money from itself, which can hardly be an allegation in this case. Thus the Tribunal has approached the matter in the correct perspective and has held the issuance of the notice under Section 148 to be bad in law and need to be set aside - in favour of assessee. X X X X Extracts X X X X X X X X Extracts X X X X ..... peals). The appeal was preferred both on the question of jurisdiction as well as on merits. Insofar as the plea of jurisdiction taken by the respondent-assessee was concerned, the Commissioner of Income-Tax (appeals) did not agree with the submissions of the respondent-assessee and held that re-opening of the assessment was valid under Section 147 of the said Act. However, on merits the Commissioner of Income Tax (Appeals) held in favour of the respondent-assessment and deleted the entire amount of Rs.77 lakhs. 3. The Revenue, being aggrieved by the decision on merits by the Commissioner of Income Tax (Appeals) preferred the said appeal ITA No.4652 (Del) of 2009 before the Tribunal on the question of deletion of the addition of Rs.77 lakhs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icer would be barred from re-opening of the assessment already done at an earlier stage. In Wel Inter Trade P. Ltd. & Anr (supra) this Court has observed as under:- "A plain reading of the said proviso makes it more than clear that where the provisions of section 147 are being invoked after the period of four years from the end of the relevant assessment year, in addition to the Assessing Officer having reason to believe that any income chargeable to tax has escaped assessment, it must also be established as a fact that such escapement of assessment has been occasioned by either the assessee falling to make a return under section 139 etc., or by reason of failure on the part of the assessee to disclose fully and truly all material facts n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s assessment. The court observed that absence of this find, which is the sine qua non for assuming jurisdiction under section 147 of the Act in a case falling under the proviso thereto, makes the action taken by the Assessing Officer wholly without jurisdiction. We agree with these observations of the Punjab and Haryana High Court and are of the view that in the present case also, the Assessing Officer has acted wholly without jurisdiction. The invocation of section 147, the issuance of the notice under section 148 and the subsequent order on the objections are all without jurisdiction. The impugned notice as well as the proceedings pursuant thereto are quashed...." 5. We have considered these submissions and we are inclined to agree with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B. 4. -do- Rs. 500000 2163 14.12.01 -do- 5. Vin Fin & Investment Rs.50000 841908 07.01.02 KVB, Karol Bagh 6. Fair "N" Square Exports (P) Ltd. Rs.200000 816168 08.01.02 Vijay Bank, R. Nagar 7. Pololeasing & Fin. (P) Ltd. Rs. 600000 162529 18.12.01 SB Mysore, KB 8. -do- Rs. 350000 812701 20.12.01 Vijay Bank, R. Nagar 9. -do- Rs.500000 812722 8.01.02 -do- 10. -do- Rs. 500000 812730 18.01.02 -do- 11. -do- Rs. 300000 812723 26.02.02 -do- 12. Satwant Singh Sodhi Const.(P) Ltd. Rs. 100000 816140 18.01.02 -do- 13. -do- Rs. 300000 816144 01.02.02 -do- 14. -do- Rs. 600000 816143 06.02.02 -do- 15. -do- Rs. 500000 826823 22.03.02 -do- 16. M.V. Mktg. (P) Ltd. Rs. 300000 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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