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2023 (2) TMI 846 - AT - Income TaxReopening of assessment - tangible material for reopening - Scope of change of opinion - HELD THAT:- Reproduction of reasons show that merely by wording the reasons differently ld AO had tried to invoke the jurisdiction of reassessment. The fundamental question in earlier assessment was the analysis of the income occurring form the deposits collected through its agent. Once the additions from were made in original assessment and re-examined in reassessment proceedings, the same could not have been subject matter of reasons to believe by merely expending the scope of enquiry of the manner and nature of deposits collected by the assessee. The order of the ld CIT(A) reflects that he had duly taken into consideration all the legal aspect of the issue with regard to reopening while sustaining the submission on behalf of the assessee. AO had certainly far stretched the powers u/s 147. There is no force in the contention of the ld DR that the ld CIT(A) has failed to invoke plenary power by looking at the special audit as in fact the special audit report and same was already available at the time of first reassessment itself. Reopening being barred by limitation provide u/s 149 - AY 1993-94 - Since amendment in section 149 restricting the limitation of period for reopening the reassessments to six years, had come into effect from 01.06.2001, which being one of the nature of amendment in procedural laws would be applicable to the case of the assessee for AY 1993-94. Reliance in this regard has been rightly placed by judgment of C. B. Richards 2012 (6) TMI 37 - DELHI HIGH COURT], Ellis Mauritius Ltd. Vs. ADIT [2012 (6) TMI 37 - DELHI HIGH COURT] and Elam Vs. N. Illamathy [2020 (9) TMI 924 - MADRAS HIGH COURT] and Mon Mohan Kohli [2021 (12) TMI 664 - DELHI HIGH COURT] Thus on this basis also the reopening for AY 1993-94 is bad in law, which Ld. CIT(A) failed to appreciate.
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