TMI Blog2018 (2) TMI 674X X X X Extracts X X X X X X X X Extracts X X X X ..... to believe, on number of occasions, this Court has held and declared that reopening of the assessment cannot be held for a fishing or a roving inquiry or for verification of the records. If one reverts back to the reasons recorded by the Assessing Officer for reopening the assessment, all that he has stated that the records suggest that the assessee has entered into sale transaction of the prop ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disclosing the total income which included short term capital gain on sale of land. Such return was accepted by the Revenue under section 143(1) without scrutiny. To reopen such assessment, the Assessing Officer issued the said notice. In order to do so, the Assessing Officer had recorded following reasons: As per the AIR information it is found that for the F.Y. 200910 i.e. A.Y.201011 ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same, I am reason to believe that income chargeable to tax has escaped assessment. And the same is fit case for issuing notice u/s.148 of the I.T. Act, 1961. Hence, notice u/s.148 is required to be issued in this case for A.Y. 201011. 4. The assessee filed objections to the notice for reopening under letter dated 26.08.2017. Such objections were rejected by the Assessing Officer by an order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a) P. Ltd. v. M. Gopalan, Deputy Commissioner of IncomeTax reported in [2013] 356 ITR 481 (Guj) , the Assessing Officer must have reason to believe that income chargeable to tax has escaped assessment. This requirement of reason to believe would apply even in a case where the reopening of assessment is being resorted to where previously no scrutiny assessment was framed. In the context of suc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ication of the claim, power for reopening of assessment could not be exercised. The Assessing Officer in guise of power to reopen an assessment, cannot seek to undertake a fishing or roving inquiry and seek to verify the claims as if it were a scrutiny assessment. 6. If one reverts back to the reasons recorded by the Assessing Officer for reopening the assessment, all that he has stated that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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