SUBHASH CHANDRA,UTTAR PRADESH vs. INCOME TAX DEPARTMENT, AGRA
IN THE INCOME TAX APPELLATE TRIBUNAL
“SMC” BENCH MUMBAI
BEFORE HON’BLE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER
Subhash Chandra
G182A, Sourth Railway
Colony, Agra Cantt, Agra –
282001. Vs.
ITO
Agra, Uttar Pradesh
PAN/GIR No. AFEPC7113H
(Applicant)
(Respondent)
Assessee by Mr. Suchek Anchaliya
Revenue by Ms. Madhura M. Nayak Sr. DR
Date of Hearing
07.05.2025
Date of Pronouncement
27.05.2025
आदेश / ORDER
PER SANDEEP GOSAIN, JM:
The present appeal has been filed by the assessee challenging the impugned order 27.08.2024 passed u/s 250 of the Income Tax Act, 1961 (‘the Act’), by the National
Faceless Appeal Centre, Delhi (NFAC) for the assessment year 2016-17. 2. Ground No. 1 & 2 of the revised grounds raised by the assessee are interrelated and interconnected and relates to challenging the order of Ld.CIT(A) in upholding the order of reopening of assessment. Therefore, I have 2
Subhash Chandra., Mumbai decided to adjudicate these grounds through the present consolidated order.
3. At the very outset, Ld. AR submitted that the reasons for reopening the case were other than the issue on which the actual addition was made by the AO and while relying upon the decision of Hon’ble Bombay High Court in the case of CIT Vs. Jet Airways Ltd 331 ITR 236 Bombay, requested to set aside the order of reassessment, Ld. AR also relied upon his written submissions and the same are reproduced here in below:
1. The case pertains to Mr.
Subhash
Chandra
(PAN:
AFEPC7113H)
(herein after
'assessee/
appellant'), an individual non resident of India, for the Assessment Year ('AY')
2016-17. The Income Tax Department initiated reassessment proceedings under section 147 of the Income Tax Act, 1961, based on information that the assessee purchased immovable property worth Rs. 53,82,256 during the Financial Year 2015-
16, but did not file a return of income for AY 2016-17. 2. The Reason reproduced under section 148A(b) of the Act dated 18.02.2023 is as under:
Information, in accordance with the Risk Management Strategy formulated by the Central Board of Direct Taxes (CBDT) has been received in your case for the Financial Year 2015-16
relevant to A.Y 2016-17 through Insight Portal. The details of the aforesaid information is as given below.
Transaction date /F.Y
Information
Code
Information description
Source
Amount
2015-16
Air – 006
Purchased immovable property valued at Rs.
Sub