Commissioner Of Income Tax-5 vs Jet Airways (I) Ltd. on 12 January, 2015
" 7. Section 147 provides that if the Assessing Officer has reasons to believe
that any income chargeable to tax has escaped assessment for any
assessment year, he may, subject to the provisions of Sections 148 to 153,
assess or reassess such income "and also any other income chargeable to
tax which has escaped assessment and which comes to his notice
subsequently in the course of proceedings under this section." Explanation
3 to Section 147 inserted by Finance Act 2009 specifically provides that the
"Assessing Officer may assess or reassess the income in respect of any
issue, which has escaped assessment, and such issue has come to the notice
subsequently in the course of proceedings under this section,
notwithstanding that the reasons for such issue have not been included in
the reasons recorded under such Section 2 of Section 148". Elaborating
upon the scope of these provisions, and dealing with the question whether
any addition can be made on account of issues other than the issue in
respect of which reasons for reopening have been recorded in a situation in
which no additions are made for the reasons recorded, Hon'ble Bombay
High Court, in the case of CIT v. Jet Airways (I.) Ltd. [2011] 331 ITR
236/[2010] 195 Taxman 117, has observed as follows :--