2021 (12) TMI 1092

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..... to Petitioner is at variance with the undated form for recording the reasons annexed to the Affidavit-in-Reply. A major part of paragraph 5 - finding of the Assessing Officer - and the entire paragraph 6 containing applicability of the provisions of Section 147/151 to the facts of the case mentioned in the reasons annexed to the Affidavit-in-Reply are missing from the reasons annexed to the Petition though it is signed by the same Ankit Verma. We also note that in quite a few cases, date on the reasons or dates in the sanctions being granted are missing. Respondents are directed, henceforth, in all reasons and form for recording approval, the date will be mentioned including the date on which the officers have signed. Whichever authority i .....

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..... r. Suresh Kumar submitted that when material were found to be prima-facie in variance with special provisions, opinion formed would not prevent Assessing Officer from examining the issue. As the Assessing Officer made additional enquiry and came to conclusion that income had escaped assessment, Courts should not interfere. 5. The reasons state "It was seen from the assessment record" and "it can be seen that while assessee has secured loan ..... ", "the assessment record of the assessee were accessed and were used to enquire.....". Therefore, the entire basis to re-open or to form an opinion has been based on the same set of facts and material which were available before the Assessing Officer who passed the original Assessment Order.   .....

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..... 26. Please give complete details of Depreciation claimed at higher rates / Higher additional depreciation claimed with supporting documents." 8. In reply, Petitioner, by its letter dated 07/09/2016, provided the details. Petitioner, in its statement giving details of disallowances made, also has stated that for AY 2012-13 and AY 2013-14, there was disallowance on account of depreciation of goodwill. Notwithstanding that the Assessing Officer has allowed depreciation of goodwill for AY 2014-15. As held by Apex Court in the case of Indian & Eastern Newspaper Society, New Delhi Vs. Commissioner of Income Tax, New Delhi 119 ITR 996, even if it is an error that the Assessing Officer discovered, still an error discovered on a re-consideration .....

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