Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2024 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (3) TMI 104 - MADRAS HIGH COURTReopening of assessment u/s 147 - Admission of additional income by Senior Executive of the petitioner during the search - variation in additional income admitted - HELD THAT:- The petitioner filed Return of Income on 27.09.2014 and admitted a total income of Rs. 153,79,75,580/-. The revised returns that was filed by the petitioner on 05.03.2016 after the statement was given on 09.01.2015. Revised return filed on 05.03.2016 for the Assessment Year 2014-2015 was contrary to the Letter dated 09.01.2015 and 16.01.2015. Similarly, return that was filed on 30.09.2015 for the Assessment Year 2015-2016 by the petitioner is contrary to the letter that was issued by the petitioner on 11.7.2020. Content of which has been extracted in the reasons given for reopening of the assessment for the Assessment Year 2015-2016 vide communication dated 26.08.2020. Thus, the income for the respective assessment years have escaped assessment. Returns were filed contrary to the undertaking given by the petitioner pursuant to search that was commenced under section 132 of the IT Act, 1961 on 20.11.2014. WP dismissed.
|