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TMI Blog2015 (10) TMI 1468X X X X Extracts X X X X X X X X Extracts X X X X ..... . CIT(A) and delete the additions made on other issues. - Decided in favour of assessee. - ITA No.114/LKW/2015 - - - Dated:- 21-8-2015 - SHRI SUNIL KUMAR AND SHRI. A. K. GARODIA, JJ. For The Appellant : Shri. K. R. Rastogi, C.A. For The Respondent : Shri. Amit Nigam, D.R. ORDER PER SUNIL KUMAR YADAV: This appeal is preferred by the assessee against the order of the ld. CIT(A), inter alia, on the following grounds:- (1) That 148 has been issued which is reproduced as under :- 'A filed return of income on 29.09.2011, declaring total income of ₹ 103220/- in the Status of Firm. During the relevant year, fixed assets figure has been shown at ₹ 331571/-, whereas during the immediately preceding previo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e its say on the reasons relied upon by him. 2. During the course of hearing, the ld. counsel for the assessee has invited our attention that the Assessing Officer has issued a notice for reopening of assessment under section 147 of the Income-tax Act, 1961 (hereinafter called in short the Act ) after forming a belief that the capital gain on sale of fixed assets has escaped assessment, but while completing the assessment, no addition was made under this head. Therefore, the assessment framed consequent to the aforesaid reopening is not sustainable in the eyes of law. In support of his contention, the ld. counsel for the assessee has invited our attention to the computation of income in the assessment order. Our attention was also invit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dition was made. In this regard, our attention was invited to a series of judgments in which it has been held that once reopening of the assessment is held to be valid and addition is made on the issue on which it was reopened, the Assessing Officer may examine other issues and to make addition thereon. 5. In the case of CIT vs. Mohd. Juned Dadani (supra), the Hon'ble Gujarat High Court held that Section 147 of the Act, even without the aid of Explanation 3 enabled the Assessing Officer while framing an assessment under Section 147 of the Act, to assess or reassess such income for which he had recorded his reasons to believe had escaped assessment and also any other income which escaped assessment which came to his notice subsequentl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... but he was not justified when the reasons for the initiation of those proceedings ceased to survive. 7. Similar view was expressed by the Hon'ble Bombay High Court in the case of CIT vs. Jet Airways (I) Ltd. (supra). Their Lordships held that unless the Assessing Officer to assess the income with reference to which he had formed a reason to believe within the meaning of section 147 of the Act, it would not be open to him to assess or to reassess any other income chargeable to tax which had escaped assessment and which comes in his notice subsequent in the course of the proceedings. 8. From a careful perusal of the above judicial pronouncements, we are of the view that now the settled position of law is that once the Assessing Offi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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