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2017 (1) TMI 1004 - HC - Income TaxValidity of reopening of assessment - claiming of excessive loss - Held that:- We find that the communication dated 11th March, 2016 received by the Assessing Officer along with the extract of the survey report as relevant to the Petitioner's case was, in fact, received by the Assessing Officer. This was the material on which he formed a reasonable belief that income chargeable to tax has escaped assessment. Assessing Officer on the basis of this analysis of the data has come to a reasonable belief that income chargeable to tax has escaped Assessment. This view/ belief on the part of the Assessing Officer is his subjective view which is not shown to be perverse. Therefore, the challenge to the above belief on the basis of the data could be made by the Assessing Officer at the time of hearing before the authorities under the Act. Thus, establishing that no amounts are to be added to declared the income. Absence of income chargeable to tax escaping Assessment we find that it is undisputed position that no Assessment Order under Section 143(3) of the Act was passed. This is admittedly only a case of an intimation under Section 143(1) of the Act. Therefore, ExplanationII (b) of Section 147 of the Act would apply and it would be a deemed that income chargeable to tax has escaped Assessment as the examination by the Assessing Officer of the information received from the ADIT (Inv.) Ahmedabad, reveals claiming of excessive loss. We are not inclined to entertain the Petition, as the Petitioner can raise these very issues before the authorities under the Act. We are satisfied that the Assessing Officer on the basis of material available before him and the reasons as recorded thereon had reasonable belief to conclude that income chargeable to tax has escaped assessment.
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