DCIT Vs Hargobind Hazarimal Tejwani (ITAT Pune)
The Revenue appealed against the order dated 25.09.2025 passed by the CIT(A)-12, Pune for Assessment Year 2012-13, whereby the reassessment framed under Sections 147/148 of the Income-tax Act, 1961 was quashed on legal grounds without adjudicating the additions on merits. The reassessment had arisen from an assessment order dated 30.12.2016 passed under Section 143(3) read with Section 147.
The assessee had filed a return declaring income of Rs.74,74,184. Following a search under Section 132 on the Porwal, Agarwal, Mutha, Karia and B.U. Bhandari group on 26.02.2014, the Assessing Officer received information from the Investigation Wing and issued a notice under Section 148. During assessment proceedings, the assessee was confronted with entries in seized diaries allegedly showing cheque and cash transactions. The assessee initially denied undertaking the transactions and later alternatively contended that bank transactions could not be treated as unaccounted income, that the entries referred to another person, and that the seized diaries were found at the premises of a third party. The Assessing Officer relied on the seized material, statements and surrounding circumstances and made an addition of Rs.15.40 crore under Section 69A, along with an addition of Rs.1,20,10,000 towards alleged interest income, assessing total income at Rs.17,34,84,184.
