TMI Blog2018 (9) TMI 65X X X X Extracts X X X X X X X X Extracts X X X X ..... ed finality. The order of the Assessing Officer merged with the order of the CIT(Appeals), therefore, this Tribunal is of the considered opinion that the Assessing Officer cannot overturn the order of the CIT(Appeals) by reopening the assessment on the ground that the assessee has not filed return of income within the time limit. This Tribunal is of the considered opinion that the finality attained in a judicial order or in the order of executive officer by whom the order was passed in a judicial proceeding, cannot be so lightly disturbed by the subordinate officers. If the Assessing Officer is allowed to reopen the assessment after the order of the CIT(Appeals), then the tax payers may not have confidence on the judicial system of this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eeds were not brought to India in foreign exchange, therefore, the claim is doubtful. On appeal by the assessee, the CIT(Appeals) by an order dated 12.12.2013, found that the entire consideration was brought to India in convertible foreign exchange within the period of six months from the end of the previous year, therefore, he allowed the claim of the assessee. A copy of the order of the CIT(Appeals) is available at page 159 of the paper-book. In fact, according to the Ld. representative, the CIT(Appeals) directed the Assessing Officer to grant exemption under Section 10B of the Act at para 5.4 of his order. 3. Shri Y. Sridhar, the Ld. representative for the assessee, further submitted that in respect of dividend, etc., the CIT(Appeals) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orrect in confirming the order of the Assessing Officer. 5. On the contrary, Shri A. Sasikumar, the Ld. Departmental Representative, submitted that the issue of limitation for filing the return of income for the purpose of claiming exemption under Section 10B of the Act was not considered by the Assessing Officer at the time of original assessment. According to the Ld. D.R., the CIT(Appeals) also found that the sale proceeds were brought to India within six months in convertible foreign exchange. The issue of limitation for filing return of income was also not considered by the CIT(Appeals). This being the new issue, according to the Ld. D.R., the Assessing Officer reopened the assessment. On a query from the Bench how could the Assessin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oreign Inward Remittances starting from 07.05.2008 onwards till 25.03.2009 which are totalling to 6,11,46,043/-. Similarly, as per Annexure -2 details of FIRC inward remittances filed from 06.06.2008 to 11.03.2009 totalling to 5,17,85,585/-. The appellant has also filed debtors outstanding as on 31.03.2009 amounting to 1,54,44,806/- as per Annexure-3 4. Thus as per the bank statements filed the total foreign remittances received tallies with the total amount claimed as export receipts u/s 10B works out to 12,83,76,435/-. As the amount received has consideration in convertible Foreign Exchange Exports at 12,83,76,435/- which has brought into India within a period of 6 months from the end of the previous year, the appellant has claimed 10B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 1961, actually flows from confidence reposed by the people in the system. People may lose their confidence in the system if the power technically conferred on the Assessing Officer and the CIT(Appeals) under Income-tax Act is misused by them. This Tribunal is of the considered opinion that to retain the confidence of people in the judicial system, the Assessing Officer is expected to obey the orders of the CIT(Appeals) and other higher forums. Whatever may be the reason, when the CIT(Appeals) has allowed the claim of the assessee by directing the Assessing Officer to grant exemption under Section 10B of the Act, if the Assessing Officer feels that the order of the CIT(Appeals) is not correct, it is open to him to take the matter before th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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