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THE COMMISSIONER OF INCOME TAX 11 Versus THE AP MINERAL DEVELOPMENT CORPORATION LTD

2016 (6) TMI 113 - ANDHRA PRADESH HIGH COURT

Reopening of assessment - 90% of the mining franchise fee in computing the tax liability of the assessee - Commissioner of Income Tax (Appeals) has categorically held that the deduction under Section 80HHC of the Act was the subject matter of scrutiny in assessment proceedings under Section 143(3) of the Act; re-computation of the same deduction, on the basis of existing information, is only a change of opinion also affirmed by ITAT - Held that:- As the jurisdiction, which this Court can exercis .....

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against revenue - I.T.T.A.No.484 of 2015 - Dated:- 16-2-2016 - SRI RAMESH RANGANATHAN AND SRI M.SATYANARAYANA MURTHY, JJ. FOR THE PETITONER : NARASIMHA SARMA ORDER: (per Hon ble Sri Justice Ramesh Ranganathan) For the assessment year 2003-04, an order of assessment was passed under Section 143(3) of the Income Tax Act, 1961 (for short the Act ) on 18.01.2016. Subsequently on 23.03.2010 the assessment was re-opened under Section 147 of the Act and, by his order dated 27.12.2010, the Assessing Aut .....

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assessment; more than four years had elapsed from the end of the financial year in which the original return was filed; no new information had come forth after completion of the assessment under Section 143(3) dated 18.01.2006; the reasons recorded by the Assessing Authority showed that he only wanted to re-compute the deduction under Section 80HHC of the Act on the basis of the information provided by the assessee themselves; deduction, under Section 80HHC of the Act, was the subject matter of .....

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tion 80HHC, on the basis of the existing information, was only a change of opinion; and there was no failure on the part of the assessee to fully and truly disclose all material facts. Before us Sri B.Narasimha Sarma, learned Senior Standing Counsel for the Income Tax Department, would reiterate the very same submissions urged before the Tribunal. Section 147 of the Act relates to income escaping assessment and, thereunder, if the Assessing Authority has any reason to believe that any income cha .....

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r Section 143(3) or Section 147 has been made for the relevant assessment year, no action shall be taken under Section 147 after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under Section 139 or in response to a notice issued under Section 134(1) or Section 148 or to disclose fully and truly all material facts necessar .....

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on 147 of the Act are satisfied, can the assessment be reopened by the Assessing Authority. In terms of the proviso, it is only when an income chargeable to tax has escaped assessment by reason of the failure on the part of the assessee (a) to make a return; or (b) to disclose fully and truly all material facts necessary for his assessment, can the assessment be reopened to bring the income, which has escaped assessment, to tax under the Act. The first limb of the proviso to Section147 of the Ac .....

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