TMI Blog2018 (5) TMI 63X X X X Extracts X X X X X X X X Extracts X X X X ..... eena K. Jain (1993 (11) TMI 7 - BOMBAY High Court) being relied upon by the appellant in support of the re-opening notice was available at the time when the regular assessment order dated 12th September, 1996 under Section 143 of the Act was passed. Therefore, it would not be fair to presume that the Assessing Officer was ignorant of the decision rendered by this Court. Moreover, as the impugned order of the Tribunal itself records that the reasons recorded in support of the impugned notice was merely on the basis of borrowed satisfaction of the audit party. This also makes the impugned notice bad. - Decided in favour of assessee. - Income Tax Appeal No. 1432 of 2007 - - - Dated:- 24-4-2018 - M.S. SANKLECHA, SANDEEP K. SHINDE, JJ. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (A) in holding that the re-opening proceedings u/s. 148 of the IT Act made by the Assessing Officer are invalid as it was merely due to change of opinion ? (B) Whether on the facts and in the circumstances of the case and in law the Hon'ble Tribunal was right in confirming the orders of CIT (A) in directing the Assessing Officer to tax the profit of sale of a flat and 2 car parking in 'Tanhee Heights' as long term capital gains ? 5. The respondent had filed his return of income for the year 1994-95. The respondent's assessment was taken up for scrutiny assessment. During the course of assessment, detailed letters were filed by the respondent giving complete details of the transactions relating to the purchase and s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the impugned notice and concluded that there was absence of application of mind by the Assessing Officer and the reopening notice was issued on borrowed satisfaction i.e. on the basis of audit objection. In the aforesaid facts, the impugned order of the Tribunal held the re-opening notice to be without jurisdiction. 9. Mr. Chhotaray, appearing in support of the Appeal invites our attention to the assessment order dated 22nd February, 2001 passed consequent to the reopening notice dated 15th May, 1998. In the above order, the Assessing Officer has recorded the fact that the reopening notice dated 15th May, 1998 has been issued on account of a recent decision of the Bombay High Court in Commissioner of Income-Tax V/s. Smt. Beena K. Jai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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