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2015 (4) TMI 594 - AT - Income TaxReopening of assessment - additions / disallowances to the returned incomes and also in assessing the income from lease rental receipts as income from house property’ as against ‘business income’ - Validity of Assumption of Jurisdiction - Held that:- As rightly pointed out by the learned Departmental Representative, the sanction and approval for assumption of jurisdiction was obtained by the Assessing Officer from the Addl. CIT and not from the CIT as contended by the assessee. This fact is very clear from the order sheet noting dt.13.3.2008 and also from the Assessing Officer’s letter dt.13.3.2008 addressed to the Addl. CIT for obtaining the approval for initiating proceedings under Section 147 of the Act. It is also clear from the order sheet noting dt.19.3.2008 that the Assessing Officer has obtained the approval of the Addl.CIT for initiation of reassessment proceedings, as is envisaged in the provisions of section 151(2) of the Act. We find that it is only after this approval, that the Assessing Officer issued notices under Section 148 of the Act on 20.3.2008. On an appreciation of the records of assessment placed before us for our perusal, we are of the considered opinion that proper sanction has been obtained by the Assessing Officer from the Addl. CIT as per the requirements of section 151(2) of the Act and that the correct procedure has been followed by the Assessing Officer in initiating and invoking proceedings under Section 147 of the Act. Decided against assessee. Orders of assessment passed under Section 144 r.w.s. 147 are not tenable in law as the assessee has given all the details called for - Held that:- As in the interest of equity and justice, the matter / issues with respect to whether the lease rental receipts received by the assessee from its tenants is to be treated and assessed as ‘business income’ as claimed by the assessee or as ‘income from house property’ as held by revenue, requires fresh consideration in the light of the observations in para 6 of the decision of the coordinate bench of this Tribunal in the assessee's own case for Assessment Year 2002-03. We, therefore, remit this matter to the file of the Assessing Officer for fresh consideration of this issue after affording the assessee adequate opportunity of being heard - Decided partly in favour of assessee for statistical purposes.
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