JKC REALTY PVT. LTD.,KOLKATA vs. I.T.O., WARD - 9(1),, KOLKATA

notice u/s.148 of the Act, which was complied with by the assessee by filing return on 30.3.2019. Finally, the Assessing Officer made an addition of Rs.47,04,000/- on account of share capital and share premium u/s.68 of the Act. On appeal, ld CIT(A) affirmed the order of the Assessing Officer on the ground of limitation without considering the case on merits. Hence, the assessee is in appeal before the Tribunal.

4. At the time of hearing, ld counsel for the assessee submitted that the reopening of assessment is invalid and nullity in the eyes of law. The case of the assessee has been reopened for verification purpose only. Ld AR drew attention to the Bench to page 1 of the assessment order, wherein the reasons recorded by the AO for reopening of assessment are extracted. In the reasons extracted in assessment order at para-3, the Assessing Officer stated that “Thus it can be inferred that transaction of Rs.47,04,000/- is suspicious and same required to be verified.” Ld AR stated that the reopening cannot be made for the purpose of verification and, therefore, the same deserves to be quashed as invalid and nullity so also the assessment order framed consequently.

P a g e 2 | 4 Assessment Year : 2012-13

Order dictated and pronounced in the open court on 12/09/2025.