Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2009 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (12) TMI 12 - HC - Income TaxRe-opening of assessment– petitioner made certain investments in bonds and units which were not disclosed before the department nor the petitioner has explained the source of investments therein either before the department or even in the statement of facts filed before the Settlement Commission – AO reopened the assessment - petitioner contended that the matters covered by the order of the Settlement Commission cannot be reopened in any proceeding under the Act or under any law for the time being in force – held that - The assessing authority has no jurisdiction to issue the notice for making further enquiry in the matter in view of Sections 245D (6) and 245 I of the Act. - after passing of the order by the Settlement Commission, no power vests in the assessing authority to issue impugned notice in respect of the period and income covered under the order of the Settlement Commission - Income Tax department may move to the Settlement Commission if it has material to establish that the order was obtained by fraud or misrepresentation of facts
|