Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (6) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (6) TMI 376 - HC - Income TaxValidity of notice u/s 148 of the Act - Mere change of opinion - Claim of exemption u/s 54B of the Act - Held that:- In the return filed by the assessee, the main claim was for exemption u/s 54B of the Act on sale of land – the proceeds of the sale of land was invested in purchase of another agricultural land - the details has been shown in the Statement of Total income attached with the Return of income filed - in the original assessment, the claim of the assessee for exemption u/s 54B of the Act was thoroughly scrutinized. Merely because during such scrutiny, the AO did not look at the angle of denying exemption on the ground that what the assessee sold was not an agricultural land, would not permit him to reopen the assessment for denying the claim on a new ground - any such exercise on his part would be a mere change of opinion as the claim which did not present any complex facts and which was virtually the sole claim made in the return filed and examined during the course of assessment proceedings, cannot now be revisited on a new ground which may have occurred to the AO - assessee had presented all facts before the AO and on the basis of the facts during the original assessment if he was of the opinion that the claim was not acceptable for any reasons, he would have expressed such opinion - to permit him to reopen the assessment to press in service a new ground for denying the claim would not be permissible – thus, the notice is set aside – Decided in favour of Assessee.
|