Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2016 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (1) TMI 787 - HC - Income TaxReopening of assessment - return was filed before the wrong authority - Held that:- To the assertion of the petitioner that the return was filed before the same authority where it was previously done and that the norms required the Director of the company to file the return before the same authority where company has to be assessed, there is no serious grounds raised by the respondent. Further, the return filed by the petitioner was acknowledged and intimation under sub-section (1) of Section 143 was issued. Such being the facts, it cannot be stated that the petitioner had filed no return. The very foundation for issuing notice, therefore, as recorded in the reasons, would be belied. Other than recording that no return was filed such reasons recorded that as per the Form 26AS, it was noticed that the petitioner has received salary income of ₹ 36 lacs and had also purchased immovable properties worth ₹ 70 lacs. When the ground of non filing of the return disappears and as can be seen from the return, there was fully disclosure about the salary income of the petitioner, the reasons recorded by the Assessing Officer become completely invalid. Her attempt now to rope in the question of deemed dividend cannot be permitted since the validity must be judged on the basis of reasons recorded and not on the basis of extraneous material. Reopening quashed - Decided in favour of assessee.
|