TMI Blog1981 (9) TMI 192X X X X Extracts X X X X X X X X Extracts X X X X ..... of the SOP at Rs. 2.160 each for all the three years on the basis of the Municipal assessment. In the original assessment, the ITO accepted the ALV so disclosed by the assessee. For reopening the assessments u/s 147(a), the ITO recorded the reasons as follows: "The assessee owns one house at plot No. 36 in Sangram Colony, C-Scheme, Jaipur which is under self occupation. The value of building as assessed by the Land Bldg. Tax Department is Rs. 1,40,800. As per Board s instruction in connection with valuation of immovable properties, the number of years purchase (i.e. multiple of the net rental income) is to be taken between 12 to 20 according to the circumstances of each case. Taking it as 1/6th (average of the value of the building) the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue to the failure on the part of an assessee to disclose fully and truly all material facts necessary for his assessment for that year, income chargeable to tax has escaped assessment for that year. The question for consideration is whether there was any failure or omission on the part of the assessee to disclose fully and truly all material facts necessary for making the assessment and whether for that reason any income chargeable to tax escaped assessment. Nowhere has it been said by the ITO that the assessee failed to disclose material facts necessary for making the assessment. We have already reproduced the reason to believe being recorded by the ITO. From perusal of such reason, it clearly appears that the assessee was not charged by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee showed the valuation of the SOP as per the Municipal assessment at the time of the original assessment and already the ALV was shown. The ITO was free to draw any conclusion or inference from the facts having been disclosed by the assessee already at the time of the original assessments. It is not the duty of the assessee to help the ITO to draw a proper conclusion from a given set of facts. The only duty of the assessee is to disclose fully and truly material facts necessary for making assessment and that duty was fully discharged by the assessee. The ITO cannot accuse the assessee for not disclosing the valuation which would have been acceptable to him at all times. The assessee disclosed ALV of the SOP which was accepted by the I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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