{"id":42149,"date":"2024-05-04T12:48:32","date_gmt":"2024-05-04T07:18:32","guid":{"rendered":"https:\/\/itatonline.org\/digest\/babita-devi-kajoria-v-ito-2023-147-taxmann-com-317-101-itr-17-snkol-trib\/"},"modified":"2024-05-04T12:48:32","modified_gmt":"2024-05-04T07:18:32","slug":"babita-devi-kajoria-v-ito-2023-147-taxmann-com-317-101-itr-17-snkol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/babita-devi-kajoria-v-ito-2023-147-taxmann-com-317-101-itr-17-snkol-trib\/","title":{"rendered":"Babita Devi Kajoria v. ITO (2023) 147 taxmann.com 317\/101 ITR 17 (SN)(Kol) (Trib)"},"content":{"rendered":"<p>The Tribunal held that\u00a0 the reasons for reopening the assessment revealed that assessment was reopened on the question of excess loss\u00a0 claimed by the assessee but no addition of this amount was made in the reassessment order. The addition made in the reassessment order was\u00a0\u00a0 was totally silent on the ground on which the addition was made. The Assessing Officer simply observed that he received information from the National Multi-Commodity Exchange at Ahmedabad in response to notice under section\u00a0133(6)\u00a0of the Act that the assessee had earned profit. There\u00a0 were totally in contradiction to each other. There was no application of mind at the end of the Assessing Officer. Although it was a best judgment assessment order the Assessing Officer was obliged to conduct a proper enquiry and ascertain the complete facts before reopening the assessment and pass the reassessment order under section\u00a0147\u00a0\/\u00a0143(3)\u00a0of the Act. The quantum addition in itself ought to have not been made and might be deleted in the appellate proceedings.\u00a0 CIT v. Jet Airways (I.) Ltd.\u00a0<a href=\"https:\/\/www.taxlawsonline.com\/%5b2011%5d%20331%20ITR%200236\">[2011) 331 ITR 236<\/a>\u00a0(Bom)(HC)\u00a0 Ranbaxy Laboratories Ltd. v. CIT\u00a0<a href=\"https:\/\/www.taxlawsonline.com\/%5b2011%5d%20336%20ITR%200136\">[2011 336 ITR 136<\/a>\u00a0(Delhi)(HC)\u00a0 CIT v. Mohmed Juned Dadani\u00a0<a href=\"https:\/\/www.taxlawsonline.com\/%5b2013%5d%20355%20ITR%200172\">[2013 355 ITR 172<\/a>\u00a0(Guj) (HC) \u00a0 <strong>\u00a0<\/strong>(AY. 2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-Best Judgement assessment-No addition is made on the basis of recorded reason-Reassessment is bad in law-Levy of penalty is not valid .[S. 144,  148,271 (1)(c)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-42149","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-aXP","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=42149"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42149\/revisions"}],"predecessor-version":[{"id":42150,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42149\/revisions\/42150"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=42149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=42149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=42149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}