9911796707
TMI Blog2017 (3) TMI 1749X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee relates to the additions of Rs. 2,65,044/-, Rs. 1,56,728/- and Rs. 2,28,800/- made by the Assessing Officer on account of the alleged bogus purchases to the total income of the assessee for A.Y. 2009-10, 2010-11 and 2011-12 respectively, which are confirmed by the ld. CIT(Appeals). 3. The assessee in the present case is an individual, who is engaged in the business of trading of chemicals under the name and style of his proprietary concern M/s. Chemical India Limited. The returns of income for the years under consideration were filed by him under section 139(1) declaring total income of Rs. 4,85,380/-, Rs. 4,80,160/- and 5,55,450/- for A.Y. 2009-10, 2010-11 & 2011-12 respectively. The said returns were initially processed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same by his appellate orders dated 4th July, 2016, which are impugned by the assessee in the present appeals filed before the Tribunal. 5. I have heard the arguments of both the sides and also perused the relevant material available on record. The ld. counsel for the assessee has filed before me the copy of reasons recorded by the Assessing Officer for all the three years under consideration, which are identical except the amount of suppression of sales allegedly made by the assessee. The same are reproduced below:- "A.Y. 2009-10 (F.Y. 2008-09) 06.09.2013 "In the instant case, the assessee filed his return of income for the A.Y. 2009-10 in due time and duly processed u/s 143(1) at Rs. 4,85,380/- on 12.11.2010 against the ret ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I.T. Act, 1961 to be issued for such escapement of income". A.Y. 2011-12 (F.Y. 2010-11) 06.09.2013 "In the instant case, the assessee filed his return of income for the A.Y. 2011-12 in due time and duly processed u/s 143(1) at Rs. 5,55,453/- on 23.12.2011 by CPC against the return income of Rs. 5,55,453/-. Latter it is found and detected that against the tax identification no. (TIN) 2767002475IV for the F.Y 2010-11 relevant to the AY 2011- 12 the assessee suppress his sale of Rs. 2,28,800/-. In the light of the above, I have reason to believe that there had been escapement of income on receipt 2,28,800/- and suppression of correspondence income arises out that receipts and payment as per provision of sect ion 69(C) of I.T. Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee, the Hon'ble Bombay High Court has held that as per the provisions of section 147 amended with effect from 1s t April, 1989, the Assessing Officer has to assess or reassess the income, which escaped assessment and which was the basis of the formation of belief and if it is thus so, he can assess or reassess any other income, which has escaped assessment and which comes to his notice during the course of the proceedings. However, if after the issuing of notice under sect ion 148, he accepts the contention of the assessee and holds that the income which he has formed the reason to believe, had escaped assessment, has, as a matter of fact, not escaped assessment, it is not open to him independently to assess some other income. 8. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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