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TMI Blog2021 (3) TMI 827X X X X Extracts X X X X X X X X Extracts X X X X ..... e said opinion should have been given to the assessee. As we can see that exercise was not carried out by the Ld. Assessing Officer and merely on the basis of audit objection by the Departmental Officer in reassessment proceedings addition were made and same is not tenable in the eyes of law. We hold that proceeding u/s. 147/148 are invalid therefore assessee deserve to get relief on this technical ground, we do not want to go into the merit of the case. Thus, respectfully following above said judgments, we allow appeal of the assessee. - ITA. No. 672/Ahd/2016 - - - Dated:- 18-3-2021 - SHRI MAHAVIR PRASAD, JUDICIAL MEMBER And SHRI AMARJIT SINGH, ACCOUNTANT MEMBER) Appellant by : Shri Biren Shah, A.R. Respondent by : Shri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n based on the TDS wrongly deducted by various parties. 4. Ld. CIT(A) has erred in laws and on facts in not directing the Ld. A.O. not to charging interest under section 234A, 234B, 234C of the Act. 5. Ld. CIT(A) has erred in laws and on facts in not directing the Ld. A.O. not to initiate penalty proceedings u/s. 271(1)(c). 2. Facts of the case are that assessed has shown income from business of trading of shares securities and aluminum and labour work of aluminum section etc. In this case, Ld. A.O. mentioned that as per audit objection by the Department that as per TDS Certificate submitted gross earning u/s. 194C is ₹ 1,35,35,859/- whereas amount declared in profit loss account is that ₹ 6,34,208/- meaning ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT vs. Kelvinator of India Ltd. [2010] 187 Taxmann.com 312 (SC), the Hon ble Supreme Court has held as under: Section 147 of the Income-tax Act, 1961 - Income escaping assessment - General -Whether after substitution of section 147 by Direct Tax Laws (Amendment) Act, 1987, concept of 'change of opinion' must be treated as an in-built test to check abuse of power by Assessing Officer - Held, yes - Whether, therefore, after 1-4-1989, Assessing Officer has power to reopen, provided there is 'tangible material' to come to conclusion that there is escapement of income from assessment; reasons must have a live link with formation of belief - Held, yes 9. In the case of Shree Ram Builders vs. ACIT [2017] 81 taxmann.com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Whether since Assessing Officer had initiated reassessment proceedings solely at instance of audit party by recording reasons for which he had no conviction, same was a colourable exercise of jurisdiction by Assessing Officer and could not be sustained - Held, yes [Para 8] [In favour of assessee] 13. The Hon ble Gujarat High Court in the matter of Vodafone West Ltd. vs. ACIT [2013] 37 taxmann.com 158 (Gujarat) wherein again Hon ble Gujarat High Court has held that reassessment proceeding cannot be initiated merely on basis of audit objection, where Assessing Officer has no subjective satisfaction. 14. As it can be seen after going through the impugned order that Ld. A.O. made reassessment on the basis of audit objection. We are o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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