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TMI Blog2017 (3) TMI 1604X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A)-11 for the Assessment Year is contrary to facts, opposed to law and untenable. 2. The Learned Commissioner of Income Tax (Appeals) erred in rejecting the ground related to Jurisdiction on re-opening u/s.147 of the Income Tax Act. 2.1 The Ld CIT(A) failed to appreciate that the Appellant was subjected to Section notice u/s.148 of the Act. 2.2 The Ld CIT(A) ought to have considered the case laws relied by the Appellant in the proceedings. 2.3 The Ld CIT(A) further erred in not discussing the case laws relied by the Appellant. 2.4 The Ld CIT(A) grossly erred in relying case laws which are distinguishable on facts of the Appellant. 2.5 The Ld CIT(A) grossly erred in not appreciating that the Appellant was subjected to regular ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idity of re-opening of assessment. The Ld.CIT(A) confirmed the re-opening of assessment and allowed the assessee's appeal partly. Against the order of the Ld.CIT(A), the assesse is on appeal before us and argued that the assessment was re-opened beyond four years from the end of the relevant assessment years and the reasons recorded for re-opening of assessment was the computation of book profits u/s.115JB which was examined in the original Assessment Order dated 27.12.2007 as well as in the subsequent Assessment Order. In fact, in 2nd round, the assessment was re-opened by issue of notice u/s.147 for the purpose of examining the correctness of computation of book profits u/s.115JB of Income Tax Act and accordingly c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... four years, there should be failure on the part of the assessee as per Sec.147 of IT Act and we extract the relevant provisions of IT Act as under: 30[Income escaping assessment. 31 147. If the 32[Assessing] Officer 33[has reason to believe34] that any income chargeable to tax has escaped assessment34 for any assessment year, he 34may, subject to the provisions of sections 148 to 153, assess or reassess34 such34 income 34and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings34 under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... viso. Explanation 2.-For the purposes of this section, the following shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely :- (a) where no return of income has been furnished by the assessee although his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax ; (b) where a return of income has been furnished by the assessee but no assessment has been made and it is noticed by the Assessing Officer that the assessee has understated the income or has claimed excessive loss, deduction, allowance or relief in the return ; 40[(ba) where the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been included in the reasons recorded under sub-section (2) of section 148.] 44[Explanation 4.-For the removal of doubts, it is hereby clarified that the provisions of this section, as amended by the Finance Act, 2012, shall also be applicable for any assessment year beginning on or before the 1st day of April, 2012.] 6.0 From the above, it is clear that the reasons recorded for re-opening of the assessment was already examined by the AO in the assessment made u/s.143(3) r.w.s.147 of Income Tax Act on 30.12.2010 and the Ld.AR submitted that no fresh material is available to the AO to re-open the assessment. The Revenue could not establish that the income has escaped assessment due to the failure on the part of the assesse. Therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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