TMI Blog2017 (4) TMI 1317X X X X Extracts X X X X X X X X Extracts X X X X ..... rder dated 28.03.2014 passed by the AO as bad in law. - Decided in favour of assessee. - ITA No.-2079/Del/2016 - - - Dated:- 19-4-2017 - SHRI P.K. BANSAL SHRI K.N. CHARY For the Appellant: Dr. Rakesh Gupta, Adv. For the Respondent: Sh. Amrit Lal, Sr. DR ORDER PER K. NARSIMHA CHARY, J.M. This is an appeal challenging the order dated 01.02.2016 in appeal no. 159/14-15, A.Y. 2007-08 passed by the Commissioner of Income Tax (Appeals)-1, Gurgaon. 2. Brief facts of the case are that the assessee is an individual deriving income from hiring of Cabs under the name of M/s Genesis Wheels on rent, Gurgaon. The return of income for the AY 2007-08 was filed on 31.10.2007 declaring a total income of ₹ 409530/-and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the powers of the Tribunal in dealing with the appeals are expressed in the widest possible terms and it has jurisdiction to examine the question of law which arises from the facts available before lower authorities and which has a bearing on the liability of the assessee, even if such question has not been raised before the lower authorities, is concerned, he is fortified in his submission by the judgements of the Hon ble apex court in Jute Corporation of India Limited vs. CIT 187 ITR 688 , National Thermal Power Corporation Ltd. vs. CIT (1998) 229 ITR 383 (SC) . 6. Now turning to the merits of the contention, first proviso to Section 147 reads as follows: Provided that where an assessment under sub-section (3) of sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Further the conditions required for invoking the same, as stated above is conspicuously absent. Revenue does not claim to have come in possession of new material to form the basis for the belief that income escaped assessment. 9. Reliance is placed on the decisions reported in Wel Intertrade P. Ltd vs ITO (2009) 308 ITR 22 (Delhi) and Duli Chand Singhania Vs. ACIT (2004) 269 ITR 192 (P H) for the principle that in the absence of an allegations that escapement of income had occurred by reason of failure on the part of the assessee to disclose fully and truly all the material facts necessary for his assessment, which is a sine qua non for assuming jurisdiction under section 147 of the Act in a case falling under the prov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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