Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (6) TMI 171 - AT - Income TaxReopening of assessment - deduction of “provision for construction” disallowed - Held that:- Sufficiency of reasons for reopening and assessment does not call for determination at the stage of reopening assessment and secondly though the material were available on record, there was no conscious consideration of the same because there was no application of mind by the Assessing Officer at the time of regular assessment proceedings, therefore, there was no change of opinion by the Assessing Officer. As discussed above, the factual finding of the Learned CIT(Appeals) that there was no application of mind by the Assessing Officer is contrary to the record. However, it has been fairly admitted by the Learned CIT(Appeals) that the materials were already available on record. Assessing Officer has initiated reopening proceedings merely on reappraisal of the details forming part of the original assessment proceedings. It is evident from the paper book that vide letter dated 25.3.2003, the assessee had furnished details of provisions made for construction expenses as on 31.3. 2000 with copies of bills submitted by the parties, before the Assessing Officer during the original assessment proceedings. Thus, there is nothing to suggest that any new fact/information had come to the notice of the Assessing Officer subsequent to the original assessment to acquire jurisdiction by him to initiate reopening proceedings under sec. 147 of the Act. Thus reassessment as invalid and the same has been quashed. - Decided in favour of assesse.
|