TMI Blog2016 (12) TMI 413X X X X Extracts X X X X X X X X Extracts X X X X ..... o the higher authority for approval to initiate proceedings under section 147, A.O. has reiterated and stated that according to him the audit objection is required to be dropped, however, remedial action is required to be taken as precautionary measures. Under the circumstances, there is no subjective satisfaction on the part of the A.O. that the income has escaped the assessment. Thus the impugned reopening proceedings cannot sustain and the same deserves to be quashed and set aside on the aforesaid ground alone. - Decided in favour of assessee - SPECIAL CIVIL APPLICATION NO. 15834 of 2016 - - - Dated:- 29-11-2016 - MR. M.R. SHAH AND MR. B.N. KARIA, JJ. FOR THE PETITONER : MR MANISH J SHAH, ADVOCATE FOR THE RESPONDENT : MR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n after considering this income, claimed for taking credit of TDS exceeds the income offered as rental Income by ₹ 22,49,950/- (Rs.2,47,12,566 ₹ 2,12,82,314 ₹ 11,80,302). This involves under assessment of income of ₹ 15,74,965/- (Rs.22,49,950 30% of ₹ 22,49,550). 2. In view of the above facts, I have reasons to believe that in this case income chargeable to tax has escaped assessment for the A.Y. 2011-12. 4.01. On receipt of the reasons recorded for reopening of the assessment under section 147 of the Income Tax Act for the A.Y. 2011-12, the petitioner assessee raised objections. It was the case on behalf of the assessee that the assessment is sought to be reopened at the borrowed satisfaction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... venue has produced the relevant files from the office of the A.O. On perusal of the files, noting and the relevant documents, it appears that after the audit party raised objections, A.O. in fact justified the assessment order and in fact requested to drop the audit objections. Even in the communication to the higher authority for approval to initiate proceedings under section 147, A.O. has reiterated and stated that according to him the audit objection is required to be dropped, however, remedial action is required to be taken as precautionary measures. Under the circumstances, there is no subjective satisfaction on the part of the A.O. that the income has escaped the assessment. 6.01. The issue involved in the present Special Civil ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
