TMI Blog2009 (3) TMI 512X X X X Extracts X X X X X X X X Extracts X X X X ..... e for gas cylinders during the relevant accounting period had wrongly been claimed thus the action of the Assessing officer in issuing the notice under section 148 of the Act was nothing but a change of opinion on the same set of facts. the notice of reassessment was not valid and was liable to be quashed. - 14611/08 - - - Dated:- 17-3-2009 - MEHTA D. A. and BRAHMBHATT S. R. JJ. Tushar P. Hemani with Ms. Paurami Sheth for the petitioner. Bhatt with Mrs. Mauna M. Bhatt for the respondent. Judgment: D. A. Mehta J .- Having heard learned counsel appearing for the respective parties, the petition is taken up for final hearing and disposal today. Rule. Learned counsel for the respondent authority is directed to waive ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment of the assessment year in question. That in the present case as can be seen from the assessment order dated March 31, 2005 (annexure B), relevant details had been called for vide show-cause notice issued on February 23, 2005, and the petitioner had submitted the necessary explanation under cover of letter dated March 22, 2005. That therefore, there was no failure or omission on the part of the petitioner, the other two conditions not being applicable in the facts of the case. 5. On behalf of the respondent authority attention was invited to the affidavit-in-reply dated March 3, 2009, to emphasise the fact that the petitioner had approached at the notice stage and alternative statutory remedy was available in case the assessment frame ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... how that there was omission or failure on the part of the petitioner to furnish full and true particulars of income. 7. In the present case as the reasons recorded indicate the Assessing Officer is of the opinion that the lease rent of Rs. 11,68,740 paid by the petitioner for gas cylinders during the relevant accounting period has wrongly been claimed because according to the Assessing Officer during the same accounting period gas cylinders owned by the petitioner were sold off working out short-term capital gain of Rs. 3,13,630. Whether the lease rent was wrongly claimed or not is an issue on which the Assessing Officer had applied his mind at the time of framing the original assessment on March 31, 2005, by calling for necessary informa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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