2005 (2) TMI 461

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..... resident: 1. This is an appeal by the assessee challenging the order dt. 5th Aug., 1999 of the CIT(A) as erroneous. 2.1 The learned counsel for the assessee submitted that : The assessment in this case was originally completed on 31st July, 1992 under s. 143(3) of the IT Act, 1961. It was reopened subsequently to bring to tax the profit on sale of land under the head business income earlier asse .....

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..... ht to have held that the reopening of the assessment under s. 147 of the Act is on mere change of opinion and that, therefore, the reopening proceedings are invalid. He is not justified in upholding the assessment when the reasons for reopening of the assessment specifically requested for by the assessee were not given and such reasons alone would form the basis for validity of the reopening of th .....

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..... ustification for treating the sale of agricultural lands in parts by the assessee as business income or venture. He failed to see that the facts and circumstances of this case are totally different from the facts of the case laws referred to in her order. 3. On the other hand, the learned representative for the Revenue countered to say in brief, by defending the order impugned besides opposing th .....

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..... necessity would be there to go into the merits of the appeal for the reasons following. 4.2 In view of the fact that we are convinced with the stand taken by the assessee that additional ground of appeal as stated above being convincing, we do admit the same and proceed to dispose of the additional ground of appeal, which is the preliminary issue in the instant case. 4.3 We may state that in the .....

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..... we declare, the facts and circumstances being in favour of the assessee, the initiation of proceedings under s. 148 of the Act and reopening under s. 147 of the Act are invalid, the reasons for reopening of the assessment specifically requested for by the assessee having been not given by the Department. Such reasons alone would form the basis for validity of the assessment but the assessee has b .....

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