2019 (6) TMI 714

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... assessment as well as in reassessment. Entire exercise therefore would be futile. Only on that ground, Appeal is not entertained and disposed off accordingly. - INCOME TAX APPEAL NO. 1374 OF 2017 - - - Dated:- 7-6-2019 - AKIL KURESHI S.J. KATHAWALLA, JJ. Mr. N.C. Mohanty for the Appellant. Mr. P. Pardiwala, Sr. Adv. a/w. Mr. Nitesh Joshi, Mr. Damodar i/b. Kanga and .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... in the circumstances of the case and in law, the ITAT was right in holding that the AO had wrongly assumed wider jurisdiction u/s 147 whereas remedy u/s 154 was available with him without appreciating that the AO had not made any addition over and above the amount which should have been added through rectification u/s 154 of the I T Act, 1961 ? 3. Respondent - Assessee is a limited com .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... unal by the impugned Judgment came to the conclusion that if consequent upon the reassessment for the year 2005-06, the assessment for the year 2006-07 was also to be adjusted, the same could have been done by exercising rectification powers under Section 154 of the Income Tax Act, 1961 (for short 'the Act'). The Assessing Officer could not have resorted to reopening of assessment. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X