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2015 (11) TMI 1290 - ITAT RANCHI

2015 (11) TMI 1290 - ITAT RANCHI - TMI - Reopening of assessment - non communication of reasons for initiation of proceedings Held that:- We find that the Commissioner of Income Tax (Appeals) has stated in his order that no reasons for initiation of proceedings under section 148 of the IT Act, 1961 were communicated to the assessee. The Departmental Representative could not bring any material on record to controvert the finding of the Commissioner of Income Tax (Appeals) that the reason for reop .....

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CA For the Respondent : Shri A Rakshit - DR ORDER Per N S Saini, Accountant Member These are the appeals filed by the assessee against the consolidated order of Commissioner of Income Tax (Appeals), Dhanbad, dated 31/03/2014 passed in the assessment years 2006-07 to 2008-09. 2. In all the years under consideration, the sole issue involved is that Commissioner of Income Tax (Appeals) was not justified in confirming the action of the Assessing Officer in initiating the proceedings under section 14 .....

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received information that the appellant had made investments of ₹ 2,50,000/-, ₹ 7,50,000/- and ₹ 1,12,475/- (There is minor variation in the amount of investment in the third polity in the three assessment years) whereas, in the balance sheets, investment of ₹ 2,50,000/- only was disclosed. Accordingly, he had very specific information leading to belief that income chargeable to tax had escaped assessment and proceedings under section 147 of the Income-tax Act, 1961were i .....

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cated is baseless and contrary to facts. Thereafter, the AO issued another show-cause in which it was mentioned that since compliance was not made of earlier notices, one more opportunity was being given to explain why additions of the above amounts should not be made. Therefore, this ground of appeal of the appellant is not maintainable." 4. The Authorized Representative of the assessee submitted that no reasons for reopening of the assessment were supplied to the assessee in spite of aski .....

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