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2015 (10) TMI 751 - KARNATAKA HIGH COURT

2015 (10) TMI 751 - KARNATAKA HIGH COURT - TMI - Reopening of assessment - Tribunal setting aside the order under Section 143(3) r.w.s. 147 - Held that:- Having gone through the reasons recorded for issuing notice, as well as the assessment order dated 27.12.2010, we do not find that there is any finding recorded to the effect that the assessee failed to disclose fully and truly all material facts necessary for the relevant assessment year. The submission of the learned counsel for the appellant .....

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ot even been specified in the reasons recorded in the notice or in the assessment order itself, the notice issued beyond the period of four years has rightly been held to be invalid by the learned Tribunal. The Tribunal has rightly relied on the decision of this Court in the case of Hewelett Packard Digital Global Soft Ltd., (2011 (9) TMI 800 - Karnataka High Court ) and as such do not find any infirmity with the order of the Tribunal. - Decided against revenue. - I.T.A. No. 310/2015 - Dated:- 2 .....

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declared its income at ₹ 11,89,42,063/-. The assessment order was passed under Section 143(3) of the Act on 30.11.2006 whereby the total income of the assessee was determined at ₹ 11,90,43,271/-. The assessment order had become final. A survey was conducted in the premises of the assessee company on 5.11.2009 in which certain documents were found, and thus for reopening the assessment of assessment year 2004-05, a notice dated 8.3.2010 was issued under Section 148 of the Act, after r .....

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in the nature of Info Trakking and Delivery schedule which is paid to foreign companies (M/s South Elegant Limited and others) as per the Service Agreement entered in to between the assessee company and M/s South Elegant Limited dated 1.7.2002. During the course of post survey proceedings statement of the Managing Director of the company Shri Anupam Kothari was recorded and was asked to substantiate this agreement and payments made in pursuance to this agreement and it is found that the reply o .....

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owards termination fee. The genuineness of this Info Trekking and Delivery schedule expenditure was not proved by the assessee to the satisfaction of the Assessing Officer and even the assessee could not prove the legality of this document as the document in question was on a plain sheet of paper, neither registered nor notarized or either witnessed by any person or even does not have the name of the authorized person as such. Further more the assessee company could not prove beyond doubt the ne .....

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sessee in the name of Commission - Sales amounting to ₹ 8,50,58,441/- and these commission payments have been paid to foreign company/s along with other. As the issue of payment of commission - sales was not examined during the course of assessment proceedings for A.Y. 2004-05 as also this issue has come to light on account of survey u/s 133A, I have reason to believe that income chargeable to tax has escaped assessment within the meaning of section 147 of the Income-tax Act, 1961." 3 .....

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er, this appeal has been filed by the Revenue, raising the following substantial question of law: "Whether on the facts and in the circumstances of the case, the Tribunal was right in law by setting aside the order under Section 143(3) r.w.s. 147 without appreciating the fact that there was conclusive material on record for reassessment proceedings before the assessing officer ?" 4. We have heard Sri.K.V.Aravind, learned counsel for the revenue and perused the records. 5. Sri.K.V.Aravi .....

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