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2016 (8) TMI 959 - BOMBAY HIGH COURT

2016 (8) TMI 959 - BOMBAY HIGH COURT - TMI - Reopening of assessment - reasons to believe - Held that:- Mere non filing of return of income does not give jurisdiction to the Assessing Officer to re-open the assessment unless the person concerned has total income which is assessable under the Act exceeding maximum amount which is not chargeable to Income Tax. This is provided in Explanation 2 to Section 147 of the Act. This is for the reason that in terms of Section 139(1) of the Act the obligati .....

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ice of re-opening notice is a reasonable belief of the Assessing Officer that income chargeable to tax has escaped assessment. The condition precedent for issuance of notice under Section 147/148 of the Act is no different in cases where no return of income has been filed. If clause (a) of explanation 2 to Section 147 of the Act is to be applied then it must be established that the income of the person to whom the notice is issued is in excess of the maximum amount not chargeable to tax. This co .....

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asis for sustaining the impugned notice. No prejudice to the Assessee, as contended by the Revenue, cannot be the basis for acquiring jurisdiction to issue a re-opening notice. - Decided in favour of assessee - Writ Petition No. 1155 of 2016 - Dated:- 20-7-2016 - M. S. Sanklecha And A. K. Menon , JJ. Mr. J.D. Mistri, Senior Counsel with Madhur Agarwal with Mr. Atul Jasani for the petitioner Mr. Suresh Kumar with Ms.Samiksha Kanani for the respondents ORDER P. C. 1. At the very outset Mr.Mistri, .....

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dispensed with. 3. Heard. Rule. 4. This petition challenges a notice dated 31st March, 2015 issued under Section 148 of the Income Tax Act, 1961 (the 'Act') seeking to re-open assessment for the assessment year 2008-09. The reasons in support of the impugned notice indicate that for Assessment Year 2008-09 the petitioner has not filed its return of income nor obtained PAN (Permanent Account Number). This even when the petitioner had received contribution aggregating to ₹ 6.58 cror .....

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the trust to be distributed to various political parties and/or individual candidates. Further as per clause 8 of the Trust deed, in the event the amount is not distributed within a period of six years from the date of receiving the contribution, the undistributed amount is required to be returned to the contributor. Further, the obligation to file return of income as well as obtain PAN number is only when there is taxable income which arises in the hands of person. In this case the reasons pro .....

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objections. On the petitioner filing its return of income the petitioner's contention will be examined and accepted if found correct. No prejudice is caused to the petitioner by participating in reassessment proceedings. 7. Mere non filing of return of income does not give jurisdiction to the Assessing Officer to re-open the assessment unless the person concerned has total income which is assessable under the Act exceeding maximum amount which is not chargeable to Income Tax. This is provide .....

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