Revenue is in appeal before the Tribunal against order of the ld.CIT(A)-2, Ahmedabad dated 27.6.2016 passed for Asstt.Year 2007- 08.
IN THE INCOME TAX APPELLATE TRIBUNAL
AHMEDABAD - BENCH ‘A’
BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT
SHRI WASEEM AHMED, ACCOUNTANT MEMBER
M/s.Gujarat Storages P.Ltd.
605, Samedh Complex
C.G. Road, Ahmedabad.
PAN : AABCG 7431 K
Revenue by : Shri S.S. Shukla, Sr.DR
Assessee by : Shri Mehul K. Patel, AR
Date of Hearing : 12/08/2021
Date of Pronouncement: 24/08/2021
O R D E R
Brief facts of the case are that the assessee is a private limited company. It has filed its return of income electronically on 5.11.2007 declaring total income at Rs.26,008/- which was processed under section 143(1) on 11.1.2009.
2.In appeal, the assessee has challenged reopening of the assessment before the ld.first appellate authority. The ld.CIT(A) after recording detailed reasoning held that the AO has erred in reopening the assessment. He has not provided any satisfactory reasoning for taking action under section 147 of the Act. The ld.CIT(A) did not adjudicate the issue on merit, though noted down arguments of the assessee, but ultimately held that since he has quashed the assessment order on the preliminary jurisdictional issue, there is no necessity to examine the issue on merit.
3. With the assistance of the ld.representatives, we have gone through the record carefully. For appreciating the aspect, whether the AO has rightly reopened the assessment or not, it is imperative upon us to take note of reasoning assigned by the AO. Such reasons have been reproduced by the ld.CIT(A) in para-2.5 of the impugned order.
4. In the result, appeal of the Revenue is dismissed.
Pronounced in the Court on 24th August, 2021 at Ahmedabad.
Please find attached the enclosed file for the full judgement