9911796707
TMI Blog2013 (12) TMI 549X X X X Extracts X X X X X X X X Extracts X X X X ..... - There was no evidence, document or material in possession of the AO to prove that the assessee had in fact sold any flat in the assessment year under appeal - The ld. CIT (A) is also not justified in confirming the reopening of assessment on the ground that the additions made by the AO are connected with the reasons as recorded to the construction business - Decided against Revenue. - Income Tax Appeal No. - 342 of 2013 - - - Dated:- 2-12-2013 - Hon'ble Sunil Ambwani And Hon'ble Surya Prakash Kesarwani,JJ. For the Appellant : Dhananjay Awasthi ORDER We have heard Shri Dhananjai Awasthi, learned counsel appearing for the department. Shri Suyash Agarwal appears for the respondent-assessee. This Income Tax Appeal filed unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - "6. Considering the facts of the case in the light of above decisions, it is clear that assumption of jurisdiction by the AO in the aforesaid case to initiate re-assessment proceedings are bad in law and liable to be quashed. The perusal of the reasons showed that the escapement of income from assessment had been attributed not to any existing material, but on assumption of state of things to exist for the reasons best known to the AO. There was no foundation to the reasons recorded by the AO for escapement of income. The information received from the office of the ld. CIT (A)-I, Agra was wholly vague and incorrect regarding sale of flats by the assessee firm. The AO before assuming jurisdiction u/s 148 of the IT Act did not verify or e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he additions made by the AO. Considering the above discussion, we are of the view that the reasons for reopening of assessment are based on incorrect and non-existing facts and no addition has been made by the AO on account of sale of flats in the reassessment order, therefore, assumption of jurisdiction by the AO u/s 147/148 is bad in law and without jurisdiction. We, accordingly, set aside and quash the reassessment proceedings u/s 148 of the IT Act. The resultant additions made by the AO and ld. CIT (A) in the impugned orders stand deleted. The same are not discussed separately, as they are left with academic discussion only." In the present case, we also find from the record that though it was alleged that out of 14, four flats were s ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
