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2012 (12) TMI 293 - HC - Income TaxValidity of Reassessment Proceedings - Escapement of Income - concealment of income and tax evasion - “reason to believe” - jurisdiction to reopen the petitioner’s assessment - petitioner did not disclose expenditure incurred by her in her foreign travels during the relevant previous year - no documentary evidence was available to show the inclusion of the expenditure involved in the foreign travels in the taxable income of the petitioner’s husband, who was also assessed to tax by the ACIT, Circle 48(1), New Delhi - notice u/s 148 was issued on 28.3.2012 after a period of 4 years from the end of the assessment year - held that:- no documents were submitted along with the petitioner’s return of income to show that the expenditure incurred on foreign travels along with her family was part of the salary package of her spouse, Abhisar Sharma - failure of petitioner to furnish fully and truly all primary and material facts relating to her assessment - In absence of any document or evidence filed along with her return of income explaining the expenditure incurred by her on her foreign travels during the relevant previous year, the Assessing Officer was justified in invoking the first proviso to Section 147 and in coming to the prima facie belief that there was escapement of income on account of the assessee’s failure to satisfy the requirements of Explanation 1 below Section 147 - notice issued on 28.3.2012 u/s 148 of the Act for the assessment year 2005-06 was within the jurisdiction of the Assessing Officer - AO is directed to dispose of the objections filed by the petitioner within a reasonable time and at any date not later than 30 November, 2012, if not already disposed of.
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