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2012 (10) TMI 326 - HC - Income TaxReopening of assessment - undisclosed income of minor child - Held that:- Reopening powers are available to the AO only when he had reason to believe on the material available before him that part of the assessee's income had escaped assessment. The Tribunal found that the minor children of the assessee had filed their returns, before the notice u/s 148 was issued and thus the assessee had placed all material on record including the income of the minor children. Unexplained deposit in saving bank account - Held that:- The Tribunal did not commit any error in holding that these additions were in respect of assessment year 1989-90, in respect of which the remedy was available to the revenue to file appeal against the assessment order of the assessment year 1989-90 - AO did not have any material on which he could have recorded his satisfaction that any part of the income of the assessee had escaped assessment to initiate proceedings under Section 147/148 - in favour of assessee.
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