TMI Blog2017 (7) TMI 871X X X X Extracts X X X X X X X X Extracts X X X X ..... f the respondent-assessee against the notice for re-assessment and the reasons to believe were disposed of by the Assessing Officer by detailed order and the said order was allowed to attain finality, the matter with regard to the validity of the notice and the proceedings had come to rest. The Tribunal therefore had no jurisdiction in law to allow the appeal on a technical ground that the proceedings were invalid for the reason that they were initiated on the basis of change of opinion rather than on any valid ground. Tribunal has manifestly erred in law in holding that there was a change of opinion and therefore it was not open for the authorities to have proceeded under Section 147/148 of the Act for re-assessment. - Decided in fav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 143(3) of the Act. Thereafter, a notice under Section 148 of the Act was given on 30.01.2001 on the ground that the income of the respondent-assessee has escaped assessment and therefore, proceedings for re-assessment are necessary. The respondent-assessee was supplied with the reasons to believe on the basis of which the opinion for re-assessment was found. The respondent-assessee had filed objections against the notice for re-assessment and the reasons to believe so supplied to him. The objections were disposed of and were not challenged any further by means of a writ petition as contemplated vide GKN Driveshafts (India) Ltd. Vs. Income Tax Officer and others, 2003 (259) ITR 19 (SC). Thus, the controversy with regard to initiation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the Assessing Officer while preparing the intimation under Section 141(1) of the Act has considered the material and that there was no fresh material for recording the reason to believe that the income has escaped assessment. In Assistant Commissioner of Income Tax Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd., 2007 (291) ITR 500 (SC), the Supreme Court had considered the provisions of Section 143(1) of the Act and has held that the notice of intimation under Section 143(1) of the Act is given without prejudice to the provisions of Section 143(2) of the Act and it does not preclude the right of the Assessing Officer to proceed under Section 143(2) of the Act. The legislative intent is very clear from the use of the word intimation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see against the notice for re-assessment and the reasons to believe were disposed of by the Assessing Officer by detailed order and the said order was allowed to attain finality, the matter with regard to the validity of the notice and the proceedings had come to rest. The Tribunal therefore had no jurisdiction in law to allow the appeal on a technical ground that the proceedings were invalid for the reason that they were initiated on the basis of change of opinion rather than on any valid ground. In the above facts and circumstance, the Tribunal has manifestly erred in law in holding that there was a change of opinion and therefore it was not open for the authorities to have proceeded under Section 147/148 of the Act for re-assessmen ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
