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TMI Blog2023 (2) TMI 752X X X X Extracts X X X X X X X X Extracts X X X X ..... hat while making assessment u/s 147 Assessing Officer has power to make addition of any other item of income which comes to his notice in course of the assessment proceedings along with the item of income for which assessment was reopened. Without making addition of the escaped income, no other addition can be made. Whereas, in the facts of the present appeal, the Assessing Officer without maki ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on account of cash deposited in the bank account. 3. Briefly, the facts are, in course of assessment proceedings under Section 147/143(3) of the Income-Tax Act,1961 for assessment year 2010-11, the Assessing Officer found that in financial year 2009-10, the assessee had purchased an immoveable property at Village Bhadwal, Taluk Kajrat, Distt. Raigarh, Maharashtra and payments were subsequently ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act, the assessee filed his return of income on 13.12.2018 declaring income of Rs.4,03,160. 4. Ultimately, the Assessing Officer completed the assessment by adding an amount of Rs.5,68,819, being cash deposited in account maintained with ICICI bank. Assessee contested the aforesaid addition in appeal before the learned Commissioner (Appeals). 5. After considering the submissions of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... available on record. 9. From the reasons recorded to reopen the assessment under Section 147 of the Act, a copy of which is placed in the paper book, it is observed that assessment was reopened alleging that loan availed of Rs.32,65,500 is non-genuine, hence, has escaped assessment. However, while completing the assessment, the Assessing Officer has not added the loan amount. 10. On the con ..... X X X X Extracts X X X X X X X X Extracts X X X X
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