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TMI Blog2018 (2) TMI 2116X X X X Extracts X X X X X X X X Extracts X X X X ..... tegorical finding regarding the expenditure not been considered for the purposes of deduction in the P L account. The decisions relied upon by Ld. DR in the written submissions filed mostly relate to situations where there was tangible material available outside the record based on which Honble Supreme Court and various High Courts have held reassessment proceedings to be valid. There was no tangible material in the possession of Ld. AO to initiate the reassessment proceedings and the additions made by Ld. AO was based on the materials already on record which has failed to stand the test of law as the same has been deleted by Ld. CIT (A) by observing categorically that they were never considered for the purposes of deduction in the original ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of all material facts necessary for the assessment year under consideration. 1.2. That the CIT(A) erred on facts and in law in not appreciating that the aforesaid reassessment order was passed on a mere change of opinion on reappraisal of the same facts as were available at the time of original assessment and the said order was therefore, not sustainable in law. 1.3 That the CIT(Appeals) erred on facts and in law in observing that certain factual errors were brought to the notice of the assessing officer by the Revenue audit party which constituted fresh information and reassessment proceedings initiated on the basis of the same were, therefore, valid. 1.4 That the CIT(Appeals) erred on facts and in law in not appreciating that the afores ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment proceedings. It was alleged that reassessment proceedings was initiated beyond 4 years. Assessee also challenged the reopening on the ground that there was full and true disclosure by assessee during the original assessment proceedings. After considering the submissions advanced, Ld.CIT(A) upheld reopening of assessment. 2.4. On merits, it was submitted that Ld.AO in original assessment order observed that assessee had not debited advertisement expenses/receivables to the profit and loss account and therefore no doubt could be cast regarding genuineness of the same. This was supported by the certificate issued by auditor which was filed before the Ld. AO during original assessment proceedings wherein it was submitted that no deduction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt proceeding is not based on any new material, that has been unearthed by Ld.A.O. It has been submitted that the additions are based on the materials already available on record. Ld.AR placed reliance upon the decision of Honble Delhi High Court in the case of CIT vs Kelvinator India Ltd reported in 256 ITR 1 which has been upheld by Honble Supreme Court reported in 320 ITR 561. Thus Ld.AR submitted that the reassessment proceedings are bad in law and void ab initio. 3.4. Ld. DR on the contrary placed reliance upon the findings of Ld. CIT (A) on the legality of the reassessment proceedings. 4. We have perused the submissions advanced by both the sides in the light of the records placed before us. 4.1. Admittedly, the addition made by the L ..... X X X X Extracts X X X X X X X X Extracts X X X X
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