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2014 (10) TMI 73 - HC - Income TaxReopening of assessment u/s 147 - Amount spent on construction of godown - unexplained investment u/s 69B or not - The orders of assessment, insofar as they relate to the cost of construction of a godown have been reopened in exercise of power u/s 148 of the Act - The appellants suffered orders of re- assessment in the hands of the assessing authority and accordingly carried the matter to the appellate Commissioner - It is no doubt true that the ground of the absence of factual basis for reopening the assessment was urged - The reason appears to be that the reopening was on the basis of the valuation of the godown by the Superintending Engineer. Miscellaneous application - The assessee are not able to point out as to what exactly the error in the orders passed by the Tribunal in the appeals, which is apparent from the record - the Tribunal did not address the question pertaining to the very basis for reopening the assessment - the Court or a Tribunal is deemed to have taken every aspect that is placed before it, into account and granted the relief which it felt appropriate and gave a disposal to the matter before it, in a manner which it felt appropriate – the order of the Tribunal is upheld – Decided against assessee.
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