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Reassessment Invalid If No Addition on Original Reason: ITAT Jaipur
Case Law Details
- Case Name
- Ram Khilari Meena Vs ITO (ITAT Jaipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Jaipur
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Ram Khilari Meena Vs ITO (ITAT Jaipur)
Reassessment Invalid If No Addition on Original Reason – ITAT Jaipur Follows Jurisdictional HC
The case was reopened based on information of cash deposits of ₹11.10 lakh in Assessee’s bank account. During reassessment, AO accepted the explanation for cash deposits but made an addition of ₹21 lakh as Long-Term Capital Gain (LTCG) on sale of land & building, even though LTCG was not the reason for reopening.
CIT(A) held that AO was empowered u/s 147 to assess “any other income” coming to his notice during reassessment, relying on Mehak Finve...
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