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2015 (12) TMI 1173 - AT - Income TaxReopening of assessment - negligence on the part of the assessee in furnishing necessary particulars for completing the assessment in regard to capital introduced - Held that:- The detailed questionnaire issued by the Assessing Officer to the assessee, shows that the Assessing Officer called for details with regard to capital introduced to the extent of ₹ 6,50,000/- and the advance receipt to the extent of ₹ 96,75,000/- for sale of the land. The assessee filed reply on 15.10.2009 as well as on 21.10.2009. The CIT(Appeals), by referring to the letter of the assessee dated 15.10.2009, observed that the reply given by the assessee is very vague, therefore, there was negligence on the part of the assessee in furnishing the required particulars. The CIT(Appeals) has not commented on the reply given by the assessee on 21.10.12009. The Ld. D.R. clarified that the assessee has also filed letter dated 21.10.2009 and a copy of the letter is available on the files of the Department. The assessment proceeding was completed originally on 23.10.2009. The assessee filed the letter on 21.10.2009. Therefore, it is obvious that the details with regard to advance receipt of ₹ 96,75,000/- and the capital to the extent of ₹ 6,50,000/- were very much available on the file of the Assessing Officer. In other words, the assessee has furnished the details with regard to the capital said to be introduced by the assessee to the extent of ₹ 6,50,000/- and the receipt of ₹ 96,75,000/- as advance for sale of land at Chinnasalem. The assessee has also filed a copy of the agreement dated 01.03.2006 before the Assessing Officer. In those factual situation, this Tribunal is of the considered opinion that the assessee has filed all the details before the Assessing Officer before completing the assessment. It is unfortunate that the CIT(Appeals) has not considered the letter of the assessee dated 21.10.2009, which was filed before the Assessing Officer. The letter dated 21.10.2009 is very clear and the assessee has explained before the Assessing Officer with regard to so-called capital of ₹ 6,50,000/- and receipt of ₹ 96,75,000/-. Thus there was no negligence on the part of the assessee in furnishing the required details for completing the assessment. Thus reopening of the assessment beyond four years period from the end of the relevant assessment year is not justified. - Decided in favour of assessee
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