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2016 (12) TMI 1004 - GUJARAT HIGH COURT

2016 (12) TMI 1004 - GUJARAT HIGH COURT - TMI - Validity of reopening of assessment - Held that:- There is no allegation that there was any failure on the part of the assessee in not disclosing true and correct facts necessary for the purpose of assessment. Identical question came to be considered by the Division Bench of this Court in the case of Kanak Fabrics Vs. Income Tax Officer (2011 (3) TMI 1497 - GUJARAT HIGH COURT ) and it is held that if the condition precedent to reopen the assessment .....

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pugned notice to reopen the assessment for the Assessment Year 2010-11 cannot be sustained. - Decided in favour of assessee - Special Civil Application No. 15630 of 2016 - Dated:- 29-11-2016 - M. R. Shah And B. N. Karia, JJ. Mr B S Soparkar, Advocate for the Petitioner Mr KM Parikh, Advocate for the Respondent JUDGMENT ( Per : Honourable Mr. Justice M. R. Shah ) 1. By way of this petition under Article 226 of the Constitution of India the petitioner has prayed for an appropriate writ, order or d .....

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ears as provided under Section 147 of the Income Tax Act are required to be satisfied. As per the first proviso of Section 147 of the Income Tax Act where an assessment under Sub Section 3 of Section 143 or the said Section 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, no action shall be taken under Section 147 after the expiry of four years from the end of the relevant asses .....

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sment beyond four years. The reasons recorded to reopen the assessment, for the Assessment Year 2010-11, which has been furnished to the petitioner - assessee vide communication dated 14/07/2016, reads as under; Please refer to this office Notice under Section 148 of the Act dated 10/03/2016. You have filed return of income in response to the above notice on 06/04/2016. The reasons recorded for re-opening your case are as under:- Return of income disclosing total income at ₹ 1,56,49,195/- .....

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was not considered for disallowance though the depreciation is allowed for use of car. The assessee was allowed depreciation of ₹ 33,55,430/- on car. The assessing officer ought to have disallowed 20% of the depreciation also, which he failed to do so. 3. In view of the above facts, I, have reason to believe that income chargeable to tax has escaped assessment within the meaning of Section 147 of the IT Act for A.Y. 2010-11 by an amount of more than ₹ 1 lakh by not disallowing 20% ou .....

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