TMI Blog2022 (1) TMI 373X X X X Extracts X X X X X X X X Extracts X X X X ..... ration of material on record, one view is conclusively taken by the AO it would not be open to reopen the assessment based on the very same material with a view to take another view. But from the reasons, it appears that the Assessing Officer is proceeding purely on the basis of suspicion because he is unable to comprehend how a person, whose income has been assessed at ₹ 5,22,05,840/-, would have invested ₹ 95.33 Crores. An Assessing Officer is not permitted to make a roving inquiry. We are, therefore, not satisfied that the reasons given by the Assessing Officer make out any case of failure on the part of petitioner to fully and truly disclosed material facts. Once all the material were placed before the Assessing Officer a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts necessary for its assessment in its case. The approval under proviso of sec 151(1) is hereby required before issuance of notice u/s. 148 of the I.T. Act. 3 The Assessing Officer has formed a view that there are reasons to believe escapement of income within the meaning of Section 147 of the said Act because the assessee has filed return of income declaring income of ₹ 5,00,93,727/- and capital loss of ₹ 2,28,79,325/- and proceedings under Section 143(3) of the said Act was completed on 23rd March 2015 determining income at ₹ 5,22,05,840/-. But as per information received, petitioner has invested ₹ 95.33 Crores which is not proportional to the return of income filed by petitioner . 4 As the notice has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hen certainly the assumption of jurisdiction under Sections 147 and 148 of the Act would be ultra vires, being in excess of the jurisdictional restraints imposed by the first proviso to Section 147 of the Act . 6 Having considered the reasons, the factum of failure to disclose cannot be culled down from the reasons in support of the notice seeking to reopen the assessment. The entire basis is that the Assessing Officer is unable to understand how a person, whose income is determined at ₹ 5,22,05,840/-, could have invested ₹ 95.33 Crores. The fact is petitioner has invested much more than ₹ 95.33 Crores during the year. The details of all investments made have been filed by petitioner through his Advocate's letter da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvested ₹ 95.33 Crores. An Assessing Officer is not permitted to make a roving inquiry. We are, therefore, not satisfied that the reasons given by the Assessing Officer make out any case of failure on the part of petitioner to fully and truly disclosed material facts. Once all the material were placed before the Assessing Officer and he chose not to mention about all the investments in the assessment order, it could not be contended that the Assessing Officer has not applied his mind while passing the assessment order. 9 In the circumstances, petition is allowed in terms of prayer clause - (a), which reads as under : (a) this Hon'ble Court may be pleased to issue a Writ of Certiorari or a writ in the nature of Certiorari or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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