9911796707
TMI Blog2023 (4) TMI 1252X X X X Extracts X X X X X X X X Extracts X X X X ..... ly applicable in favour of the assessee before us. A bare reading of the above Section, particularly, sub-section (3) of Section 5 clearly rejects restriction in reopening in any other proceeding under the Income Tax Act or under any other law for the time being in force in any matter covered by such order which has been passed under sub-section (1) determining the amount payable under this Act which has been said to be conclusive. In that view of the matter, the impugned order passed by the Ld. PCIT, is according to us, lacks jurisdiction and the same is, therefore, not sustainable in the eye of law. Thus, the impugned order is quashed. Assessee s appeal is allowed. - SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND Ms. MADHUMITA ROY, JUD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing under Section 263 of the Act. 5. On the other hand, the view of the Ld. PCIT is this that the addition ought to have been much more than what was assessed. Further that, the Scheme does not debar the Ld. AO to make the addition of the remaining correct amount. In that view of the matter, the addition of the balance amount has to be made by the Ld. AO by reducing the addition of Rs.11,32,448/- which has already been settled under this Scheme. The transaction which remained unexplained also further required to be examined for addition and thus the Ld. PCIT set aside the issue to the Ld. AO for fresh assessment. The Ld. AO was directed to complete the assessment after due enquiry and verification only to the extent of issues discussed a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a certificate to the declarant containing particulars of the tax arrear and the amount payable after such determination, in such form as may be prescribed. (2) The declarant shall pay the amount determined under sub-section (1) within fifteen days of the date of receipt of the certificate and intimate the details of such payment to the designated authority in the prescribed form and thereupon the designated authority shall pass an order stating that the declarant has paid the amount. (3) Every order passed under sub-section (1), determining the amount payable under this Act, shall be conclusive as to the matters stated therein and no matter covered by such order shall be reopened in any other proceeding under the Income-tax Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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