TMI Blog2021 (9) TMI 1284X X X X Extracts X X X X X X X X Extracts X X X X ..... and truly all material facts necessary for assessment - the statement of donations as received was very much available before the Assessing Officer at the time of original assessment and consequently the assumption of jurisdiction under Section 147 of the Act after four years based on the ground that it was not filed along with the audit report is bad in law and has been assumed on technical ground not mandatory in nature. In the opinion of this Court, the stipulation under Rule 5D(4) of the Act that the statement of donations shall be filed along with audit report is not a mandatory condition and is considered to have been complied with the moment the details of donation were filed before the Assessing Officer prior to the completion of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ircumstances of the present case, ITAT was justified in the eyes of law in allowing the appeal of the assessee by ignoring the fact that the assessee has failed to comply with the precondition mentioned in Rule 5D of the Income Tax Rules, 1962 for registration u/s 35(1)(ii) of the Act? (2) Whether in the facts and circumstances of the present case ITAT was justified in the eyes of law in holding that the reopening of the assessment was wholly unjustified? (3) Whether the impugned order passed by Income Tax Appellate Tribunal is perverse both on law and facts? 4. Learned Counsel for the Appellant submits that the ITAT erred in allowing the appeal of the assessee by ignoring the fact that it had not filed the list of donors alon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15 passed by CIT(A):- 4.21 After considering all the facts and circumstances of the case, I am of the view that there is no doubt that the copy of audited statement of donations received for the AY 2007-08 was available at the time of completion of original assessment.. Honorable Supreme Court in case of CIT V Nagpur Hotel Owners' Association 2001 247 ITR 201 SC has held that if the details required to complete the assessment were available at the time of original assessment then there is no requirement to invoke the reassessment proceedings. The case of the Appellant is squarely covered by this decision of the Honorable Supreme Court and accordingly the addition of ₹ 16,87,53,200/- made by the AO during the reassessment u/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve been taken to challenge the quashing of the reassessment proceedings in the matter. The assessee for abundant precaution has filed application under Rule 27 of the I.T. Rules. The crux of the findings of the Ld. CIT(A) clearly show that it is a case of mere change of opinion and that reassessment have been made after four years from the end of the relevant assessment year, after passing of the original assessment order under section 143(3) of the I.T. Act, 1961. There is no failure on the part of assessee to disclose all the facts truly and correctly which are required for passing of the assessment order. Therefore, reopening of the assessment was wholly unjustified and have been rightly quashed by the Ld. CIT(A) though no specific opera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tate of Haryana Ors. vs. Khalsa Motor Limited Ors., (1990) 4 SCC 659 has held that the High Court was not justified in law in reversing, in second appeal, the concurrent finding of the fact recorded by both the Courts below. The Supreme Court in Hero Vinoth (Minor) vs. Seshammal, (2006) 5 SCC 545 has also held that in a case where from a given set of circumstances two inferences of fact are possible, the one drawn by the lower appellate court will not be interfered by the High Court in second appeal. Adopting any other approach is not permissible. It has also held that there is a difference between question of law and a substantial question of law . Consequently, this Court finds that there is no perversity in the findings of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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