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2013 (2) TMI 348 - AT - Income TaxRe opening of assessment - difference in professional income as shown in the P & L account & TDS certificates - Held that:- Professional receipts as per the profit and loss account were far more than aggregate of professional receipts as per tax deduction at source certificates. Thus it is difficult to understand as to how can anyone form belief, or even a suspicion, that an income has escaped assessment. The income which is offered to tax is clearly more than the income as per the tax deduction at source certificates. It is, therefore, a clear case of non-application on this aspect of the matter and, in any case, the reassessment proceedings have been initiated on the short ground of need for verification of which cannot be a legally sustainable reason for reopening a completed assessment even under section 143(1).In this view of the matter, the very initiation of reassessment proceedings on the facts of this case was devoid of legally sustainable merits. Therefore, quash the reassessment proceedings - the appeal for the assessment year 2005-06 & 2006-07is allowed in the terms indicated above - in favour of assessee.
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