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2022 (7) TMI 1445 - HC - Income TaxReopening of assessment u/s 147 - unexplained cash deposits - scope of term change of opinion - HELD THAT:- The reassessment notice u/s 148 deals with the alleged cash deposit made by the assessee in the Punjab and National Bank and Bank of India. The cash deposit was not adjudicated upon in the Section 143(3) proceedings. In fact, the Assessment Order deals with another cash deposit made by the assessee in the Corporation Bank and accordingly an amount was added to his returned income after considering his reply. Consequently, the assessing officer did not consider the cash deposits in Punjab National Bank and Bank of India during scrutiny assessment proceedings. Just because the Appellate Authority has the power to modify an assessment order with regard to a source of income that has not been considered during assessment proceedings does not mean that the jurisdiction of the authorities u/s 148 of the act would be excluded when the issue involved in the proceeding u/s 148 is not the same as that being considered u/s 251 - The power u/s 148 is an independent power and would not stand excluded on exercise of powers of appellate jurisdiction by the CIT(A) u/s 251. Moreover, the impugned reassessment notice has been issued within four years from the relevant assessment year and the only requirement to be satisfied is reason to believe. Prima facie, the contention of the Petitioner that the details of the cash deposits had been disclosed by him in the income tax returns is not correct, as the assessee in his return of income in row 14 “Detail of all the bank accounts held in India at any time during the previous year (excluding dormant accounts)” has only mentioned detail of cash deposited in the Corporation Bank account and has not mentioned cash deposits in any other bank accounts. As decided in Chhabil Das Agarwal, (2013 (8) TMI 458 - SUPREME COURT) has held that as the Income Tax Act, 1961 provides complete machinery for assessment/reassessment of tax, assessee is not permitted to abandon that machinery and invoke jurisdiction of High Court under Article 226. This Court is further of the view that the present cases do not fall under the exceptional grounds on which a writ petition is maintainable at the interim stage in tax matters. As considering that the assessment order under Section 147 of the Act has already been passed in the present cases, the contentions and submissions advanced by the petitioner must be agitated before the appropriate authority. Present writ petitions are dismissed with liberty to the Petitioner to raise all its contentions and submissions before the Appellate Authority.
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