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TMI Blog2023 (7) TMI 235X X X X Extracts X X X X X X X X Extracts X X X X ..... d in the revision of the order. However, as noted from the impugned order, the addition has to be made on protective basis only. Assessee appeal dismissed. - ITA No. 1407/Chny/2019 - - - Dated:- 27-6-2023 - Hon ble Shri Mahavir Singh, VP And Hon ble Shri Manoj Kumar Aggarwal, AM For the Appellant : Shri D. Anand (Advocate)-Ld. AR For the Respondent : Shri S. Senthil Kumaran (CIT)- Ld. DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. By way of this appeal, the assessee assails the invocation of revisionary jurisdiction u/s 263 for Assessment Year (AY) 2010-11 as exercised by Ld. Pr. Commissioner of Income Tax, Central-1, Chennai (Pr. CIT) vide impugned order dated 06-03-2019 in the matter an assessment frame ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erred in directing the Assessing Officer to make de nova assessment even though the show cause notice was issued only in respect of one issue and therefore setting aside the assessment and directing the AO to make de nova assessment was beyond his jurisdiction. 2. The Ld. AR, Shri D. Anand, advanced arguments and submitted that the assessee is a director in a corporate entity. The substantive addition has already been made in the hands of that entity and therefore, adding the same in the hands of the director amount to double addition. The Ld. CIT-DR, on the other hand, opposed any interference in the impugned order. Having heard rival submissions and upon perusal of case records, the appeal is disposed-off as under. 3. The assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Therefore, AO of the assessee should have brought to tax this amount also for taxation but he failed to take note of it. The AO ought to have called for the details from the AO who had made substantiative addition in the hands of M/s EHTPL before passing the assessment order. Accordingly, assessment order was held to be erroneous and prejudicial to the interest of the revenue u/s 263 and Ld. AO was directed to consider the taxability of remaining amount of Rs. 24.77 Crores on protective basis. Aggrieved, the assessee is in further appeal before us. 5. From the fact, it emerges that certain additions of on-money have been made in the hands of the assessee on protective basis. However, it was noted by revisionary authority that the figur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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