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2015 (3) TMI 1028 - BOMBAY HIGH COURT

2015 (3) TMI 1028 - BOMBAY HIGH COURT - TMI - Validly of reassessment proceedings - addition on account of sales made to Johnson & Johnson Exports Limited - Held that:- Tribunal noted that the law is that the reasons ought to be supplied on demand by the assessee. The assessee, therefore, had no occasion to note the reasons and could not object to the same. Since the objection to the same could not be raised for want of supply of reasons, the reassessment proceedings are vitiated

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. The Tribunal concluded that in the notice issued under section 148 for reopening the assessment, the Assessing Officer stated that there was omission on the part of the assessee to furnish the true and correct affairs of the company. Apart from the fact that this was not enough for reopening the assessment the Tribunal found that if the Assessing Officer had any reservation about the sale price of the goods sold to the group concerns he should have questioned the genuineness of the transaction .....

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found them to be not sufficient or adequate for reopening the assessment - No substantial question of law. - Decided against revenue. - Income Tax Appeal No. 365 of 2013, Income Tax Appeal No. 379 of 2013, Income Tax Appeal No. 1301 of 2013 - Dated:- 16-3-2015 - S. C. Dharmadhikari And A. K. Menon,JJ. For the Appellant : Mr Suresh Kumar For the Respondents : Mr Subhash S Shetty, Mr Mandar Vaidya & Mr Hari Iyer ORDER P.C. 1. This appeal challenges the order dated 28th September, 2012, passed .....

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cessary to appreciate the arguments of Mr. Suresh Kumar are that the original returns were filed by the assessees for the relevant assessment years on the dates mentioned in the table in paragraph 2 of the Tribunal's order running page 72. By a letter dated 28th June, 2001, the assessee requested the Assessing Officer to supply a copy of the reasons recorded for reopening the assessments for respective assessment years. However, the reassessments were completed and additions were made as not .....

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part of the paper-book before him and particularly Annexure A thereof is a copy of the reasons recorded by the Assessing Officer for reopening the assessment. The Commissioner did not, according to the Tribunal, advert to the fact that these reasons were at all supplied to the assessee or not. This was a ground specifically raised before the Commissioner and precisely for this reason, the matter was remanded to him by the ITAT in the earlier round. 4. In the second round, the Commissioner mainta .....

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ly of reasons, the reassessment proceedings are vitiated. However, the Tribunal still went ahead and found out from the record the basis for reopening the assessment. The Tribunal noted that the Assessing Officer held that in the earlier assessment years assessee had sold the goods to its subsidiary concern at lesser price than the cost of producing those goods and sold to other parties. This was a vital and material fact not disclosed by the assessee in the return of income for the concerned an .....

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