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× Latest Case Laws on Income Tax by various Income Tax Appellate Tribunals in India

These are the latest case laws decided by various Income Tax Appellate Tribunals (ITAT) of India on Income Tax which have been published recently. The case laws are open for discussion and we invite expert comments from our members on its applicability and effect on relevant issues.

09-04-2019, Raju Verma, Section 147, 148, 149(C), Tribunal Delhi

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1 week 2 days ago #9107 by amit
Section - 147, 148, 149(C)
Order Date - 09-04-2019
Favouring - Assessee
Court - Tribunal Delhi
Appellant - Raju Verma
Respondent - DCIT
Justice - BHAVNESH SAINI JM & O.P. KANT AM
Citation - 419Taxpundit142
Appeal No. - ITA Nos.1796 & 1797/Del/2017
Asstt. Year - 1997-98 & 1998-99

Order

PER : O.P. KANT, A.M.:

These two appeals by the assessee are directed against two separate orders dated 17/02/2017 passed by the Ld. Commissioner of Income-tax (Appeals)-IV, Kanpur [in short ‘the Ld. CIT(A)’] for assessment years 1997-98 & 1998-99 respectively. As in both the appeals for assessment years 1997-98 & 1998-99, identical issue in dispute is involved, we proceeded to decided the appeals by a consolidated order for convenience and to avoid repetition of facts.

2.1 The grounds of appeal raised by assessee in ITA No.1796/Del/2017 are as under:

1. On the facts and circumstances of the case, the order passed by the Commissioner or Income Tax (Appeals) [CIT(A)] is bad, both in the eye of law and on the facts.

2. (i) On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that initiation of proceedings under Section 147, read with Section 148 is bad in the eye of law as the condition and procedure prescribed under the statute have not been satisfied and complied with.

(ii) On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that the reassessment proceedings initiated by the learned A.O. are bad in the eye of law as the reasons recorded for the issue of notice under Section 148 are bad in the eye of law and are contrary to the facts.

3. On the facts and circumstances of the case, learned CIT(A) has erred both on facts and in law in law in confirming the reopening ignoring the fact that there is no live nexus between the reasons recorded and the belief formed by the assessing officer.

4. On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that the notice issued under section 148 of the Act is bad and iiable to be quashed as the same is barred by limitation.

5. (i) On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in Saw, in rejecting the contention of the assessee that the notice issued under section 148 of the Act is bad and liable to be quashed, as the same has been issued invoking the provisions of section 149(c) of the Act, despite the fact that the said provision was inserted by the Finance Act, 2012, w.e.f. 1.07.2012 and thus cannot have a retrospective effect.

(ii) On the facts and circumstances of the case, learned CIT(A) has erred both on the facts and in law in ignoring the fact that an assessment which stands barred by limitation cannot be revised/reopened by a subsequent amendment made of such period of limitation.

6. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts & in law in confirming the addition of an amount of Rs. 56,10,737/- made by the AO on account of deposits in HSBC account, Geneva.

7. (i) On the facts and circumstances of the case, the learned CIT(A) has erred both on facts & in law in confirming the addition of an amount of Rs. 3,09,152/- made by the AO on account of interest on deposits in HSBC account, Geneva.

(ii) On the facts and circumstances of the case, learned CIT(A) has erred both on facts and in law in confirming the addition on the basis of an allegation that the said deposits in the bank account are unexplained income of the assessee.

8. That the addition was made arbitrarily taking the rate of interest at 5.5%.

9. (i) That the aforesaid addition was made despite the fact that there is no material whatsoever that such deposits were made during the year under consideration.

(ii) The findings confirmed by the learned CIT(A) are contrary to AO's findings given in the order for assessment year 2012-13.

(iii) On the facts and circumstances of the case, learned CIT(A) has erred both on facts and in law in confirming the action of the AO in taxing the same income twi e.

(iv) Without prejudice to the above and in the alternative, the addition so made is untenable as the same has been taxed in the assessment year 2012-, by a separate order.

10. The appellant craves leave to add, amend or alter any of the grounds of appeal.

2.2 The grounds of appeal raised in ITA No.1797/Del/2017 for AY 1998-99 are as under:

1. On the facts and circumstances of the case, the order passed by the commissioner of income fax (Appears) [CIT(A)]is bad, both in the eye of las and on the facts.

(i) On the facts and circumstances of the case, the Learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that initiation of proceedings under Section 147, read with Section 148 is bad in the eye of law as the condition and procedure prescribed under the statute have not been satisfied and complied with.

(ii) On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that the reassessment proceedings initiated by the learned A.O. are bad in the eye of law as the reasons recorded for the issue of notice under Section 148 are bad in the eye of law and are contrary to the facts.

3. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in confirming the reopening ignoring the fact that there is no live nexus between the reasons recorded and the belief formed by the assessing officer.

4. On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that the notice issued under section 148 of the Act is bad and liable to be quashed as the same is barred by limitation.

5. (i) On the facts and circumstances of the ase, the Learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that the notice issued under section 148 of the Act is bad and liable to be quashed , as the same has been issued invoking the provisions of section 149(c) of the Act, despite the fact that the said provision was inserted by the Finance Act, 2012, w.e.f. 1.07.2012 and thus cannot have a retrospective effect.

(ii) On the facts and circumstances of the case, learned CIT(A) has erred both on facts and in law in ignoring the fact that an assessment which stands barred by limitation cannot be revised/reopened by a subsequent amendment made of such period of limitation.

6. (i) On the fa ts and circumstances of the case, the learned CIT(A) has erred b th on facts & in law in confirming the addition of an amount of Rs. 3,09,152/- made by the AO on account of interest on deposits in HSBC account, Geneva.

(ii) That the addition was made arbitrarily taking the rate of interest at 5.5%.

7. On the facts and circumstances of the case, learned CIT(A) has erred both on facts and in law in confirming the addition on the basis of an allegation that the said deposits in the bank account are unexplained income of the assessee.

8. Without prejudice to the above and in the alternative, the computation of interest confirmed by the learned CIT(A) is wrong.

9. (i) The findings confirmed by the learned CIT(A) are contrary to AO’s finding given in the order for assessment year 2012-13.

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