TMI Blog2013 (5) TMI 666X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment years. The amount is meager one and department was not supposed to file the present appeals. The same is barred by Section 268A of the Act also before initiating proceedings for the reassessment, the AO has neither recorded the reasons nor satisfaction as observed by the Tribunal in its order. Tribunal is the final fact finding authority as per the ratio laid down by the Hon'ble Apex Court in the case of Kamla Ganpati vs. Controller of State Duty, [2001 (2) TMI 132 - SUPREME COURT]. Thus, there is no reason to interfere in the impugned orders passed by the Tribunal. - Income Tax Appeal No. -178 of 2005, Income Tax Appeal No.-177 of 2005 - - - Dated:- 14-5-2013 - Uma Nath Singh And Dr. Satish Chandra,JJ. For the Petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1993-94. For the assessment years under consideration, at the relevant time, the exemption was not available. In these circumstances, the assessee has filed the returns by showing "NIL" income. So, the AO has issued notice under Section 148 of the Act. On 21.05.1998, the assessee has filed the reply and again has shown "NIL" income. So, the AO has made the re-assessment under Section 147 of the Act and brought the total income to the tax. The First Appellate Authority has given a partial relief. Being aggrieved, both the parties have filed second appeals before the Tribunal, who vide impugned order has dismissed the departmental appeal and allowed the assessee's appeal. Thus, the total exemption was granted to the assessee. Still being aggr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessment years under consideration, exemption was not available to the assessee. So, the AO has rightly reopened the assessment year. None appeared on behalf of the assessee. After hearing learned counsel for the Department and on perusal of the record, it appears that in the previous and subsequent assessment years, the exemption was available to the assessee. As per the notice issued under Section 148 of the Act, the taxable income was shown at Rs.74,202/- and Rs.1,67,450/- respectively for both the assessment years. The amount is meager one and department was not supposed to file the present appeals. The same is barred by Section 268A of the Act. Further, it may be mentioned that the above amount was a taxable surplus in the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
