TMI Blog2014 (6) TMI 403X X X X Extracts X X X X X X X X Extracts X X X X ..... he same is the standard auditing practice - the theory of change of opinion may not be applicable but the nexus of reasons and application of mind are still imperative for upholding the action to reopen the assessment - There is mention of 2nd reason in the assessment order about any member having taken any building loan - In the order only exemption u/s 11 is denied - Following RANBAXY LABORATORIES LIMITED Versus COMMISSIONER OF INCOME TAX [2011 (6) TMI 4 - DELHI HIGH COURT] - as far as the AY 2006-07 is concerned, the reopening of assessment is invalid – Decided in favour of Assessee. - ITA No. 3367/Del/2011 - - - Dated:- 2-6-2014 - Shri R. P. Tolani, JM And Shri J. Sudhakar Reddy, AM,JJ. For the Appellant : Shri Piyush Kaushik, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re on adhoc basis in reassessment proceedings. 6. On the facts and circumstances of the case the CIT(A) erred in giving a finding that the appellant did not attend proceeding before DGIT(E) u/s 10(23C) of the I.T. Act when that finding was not relevant for deicing the appeal before him neither his finding was based on any material. 7. On the facts and circumstances of the case the CIT(A) erred in upholding the reopening on the plea which was never raised by the appellant. 8. On the facts and circumstances of the case the CIT(A) erred in not admitting additional ground raised by the appellant. 9. On the facts and circumstances of the case the CIT(A) erred in rejecting additional evidence submitted by the appellant. 10. On the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 18. On the facts and circumstances of the case the order of learned CIT(A) was erroneous as he failed to consider any submission or case law cited by the appellant. 19. On the facts and circumstances of the case the entire appellant order was against the principles of natural justice. 20. Appellant craves for grant of permission to add, alter or withdraw any ground of appeal at or any time before the hearing. 2. We have heard Mr.Piyush Kaushik, the Ld.Counsel for the assessee and Mr.Sameer Sharma, the Ld.Sr.D.R. on behalf of the Revenue. 3. We first adjudicate the issue of reopening. The reasons for reopening are as follows. East Point Education Society : Assessment Year 2007-08: A return has been filed declaring nil i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ruction of building and building was partly constructed. The loan was taken without permission of society. The executive committee of the society has decided not to account for any books this loan , account and construction of building from this loan. 31. According to the Revenue, this information constituted sufficient reasons for the Assessing Officer to issue notice u/s 148. Assessee contends that the Assessing Officer's power to reopen the assessment, even in the case of section 143(1) is subject to conditions which have been enunciated' by the various High Courts including jurisdictional High Court in the case of Ranbaxy Laboratories Ltd. vs. CIT (supra), wherein it has been held if the reasons for initiation of proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X
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