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TMI Blog2014 (5) TMI 589X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Kelvinator of India Limited [2010 (1) TMI 11 - SUPREME COURT OF INDIA] the reassessment notice and the final order rejecting the objections and the consequential reassessment order is set aside - the AO has no power to review - he has the power to re-assess - Decided in favour of Assessee. - W. P. (C) 2404/2013, CM APPL. 4552/2013 - - - Dated:- 30-4-2014 - S. Ravindra Bhat And Vibhu Bakhru, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it came to notice that as per 3CD report the assessee during the previous year relevant to assessment year 2005-06, had paid premium to the Life Insurance Corporation on account of gratuity and superannuation amounting to Rs.97369 and Rs.507403 respectively pending approval from competent authority. As I have reason to believe that the income chargeable to tax has escaped assessment by virtue of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nue has sought to reopen its assessment. It is stated that so far as the payment of premia to LIC for gratuity and superannuation, i.e., being Rs.97,369 and Rs.5,07,403/- appropriate responses were given to the queries made by the AO who was satisfied and had permitted such expenditure. It is contended that the other item, i.e., Rs.27,60,868/- claimed towards lease hold improvements, was claimed a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts, i.e., disclosure of premia paid towards gratuity and superannuation as well as the amount of Rs.27,60,868/- claimed towards lease hold improvements were in fact the subject matter of an enquiry in the original assessment. This Court is of opinion that in the given circumstances of the case, there was no fresh or tangible material - the only ground on which reassessment can be made under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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