TMI Blog2019 (3) TMI 2001X X X X Extracts X X X X X X X X Extracts X X X X ..... furnishing the required details for completing the assessments. We are of the opinion that the ratio laid down by the Tribunal in the case of Cordial Company [ 2013 (11) TMI 1801 - ITAT COCHIN] is squarely applicable to the facts of the assessees cases. Taking a consistent view with the Tribunal, we vacate the findings of the CIT(A) and allow the appeals of the assesses herein. Appeals of the assesses are allowed. - I.T.A. Nos. 76, 94 and 291/Coch/2018 - - - Dated:- 6-3-2019 - SHRI CHANDRA POOJARI, AM GEORGE GEORGE K., JM For the Appellant: Iype Mathew, FCA For the Respondent: A.S. Bindhu, Sr. DR ORDER Per CHANDRA POOJARI, AM These appeals filed by different assessees are directed against the different orders of the CIT(A), Trivandrum and pertain to the assessment year 2005-06. 2. The grounds raised by the assessees are common which are as follows: 1) The order of the Commissioner of Income Tax Appeals, Trivandrum is against law, facts and circumstances of the case. 2) The CIT Appeals erred in holding that the re-opening of the assessment, originally completed U/s. 153A r.w.s. 143 (3) of the I.T. Act, U/s. 147 after 4 years from the end o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have also raised additional ground which reads as follows: 1. The order passed u/s. 143 r.w.s. 147 of the I.T. Act is barred by limitation since the Notice u/s. 148 was issued only on 11/07/2011 i.e. during the assessment year 2012-13, only on the 7th year after the end of the relevant assessment year 2005-06. 4. At the time of hearing, the Ld. AR made an endorsement to the effect that the assesses herein did not want to pursue the additional ground. As such, the additional ground raised by the assessees is dismissed as not pressed. 5. Since the facts in these appeals are similar, we consider the facts as narrated in ITA No. 76/Coch/2018. The assessment for the year under consideration was originally completed u/s. 153A r.w.s. 143(3) of the Act vide order passed on 21/12/2007. The assessment was then re-opened vide notice issued u/s. 148 of the Act on 11/07/2011. The reason for reopening the assessment was that the closing balance in the current account of the assessee with the firm M/s. Cordial Company as on 31/03/2014 was (-) Rs. 10,09,073/- whereas the opening balance as on 01/04/2004 was (-) Rs. 8,48,477/-. This clearly indicated that the assessee had credited an amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceedings which in turn has been accepted by the Assessing Officer and decided not to take further action and filing the current account copy alone would not be sufficient enough so as to say that the captioned issue had already been verified and reopening of assessment at a later date is an outcome of change of opinion. The CIT(A) observed that the Supreme Court decision relied on by the assessee in view of the above was not applicable to him since the original assessment was not completed u/s. 143(3) but u/s. 153A r.w.s. 143(3) where focus was more on seized materials and no addition for the amount credited to the assessee's current account in the search assessment could be made. Hence, reopening after four years but before six years u/s. 148 in the instant case of the assessee is found to be within the permissible limit of the Act and the only condition contemplated in the Act is the escaped amount would be more than Rs. 1 lakh as in the case of the assessee. The CIT(A) observed that though the assessee claimed to have filed the current account during the course of search assessment proceedings, never brought into record documentary evidences as the same was verified by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. Against this, the assesses are in appeal before us. The assessees placed reliance on the order of the Co-ordinate Bench of this Tribunal in the case of Dy. CIT vs. Cordial Company in ITA No. 119/Coch/2013 dated 22/11/2013 wherein it was held as under: 4. We have considered the rival submissions on either side and also perused the material available on record. The assessment proceedings were completed earlier u/s. 143(3) by an order dated 24-12-2007. The assessing officer reopened the assessment by issuing notice on 29-03-2011. Admittedly, the notice was issued after expiry of four years' period. Proviso to section 147 clearly says that once the assessment was completed u/s. 143(3) it cannot be reopened after expiry of four years unless there was negligence on the part of the assessee in furnishing the required details for completing the assessment. By placing reliance on the judgment of the Kerala High Court, the ld. DR submitted that mere production of books of account is not sufficient and that it is the duty of the assessee to bring to the notice of the assessing officer the particular item in the books of account or portion of the documents which are relevant. In th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ra) may not be relevant to the facts of this case. Since there was no negligence on the part of the assessee in furnishing the particulars with regard to partners' capital account and current account and other details, proviso to section 147 would be applicable to the facts of the present case and hence, reopening of assessment after expiry of four years is not permissible. This Tribunal do not find any infirmity in the order of the CIT(A). Accordingly, the same is confirmed. 7. In the result, the appeal of the revenue stands dismissed. 7. The Ld. DR relied on the order of the CIT(A). 8. We have heard the rival submissions and perused the record. Admittedly, in these cases, the original assessments were completed u/s. 153A read with section 143(3) of the Act. At the time of completion of the assessments, the authorized representative of the assesses appeared and filed copy of bank statements, partners current account as appearing in the books of accounts of the assessee. The Assessing Officer, after being satisfied with the reply given by the assessee completed the assessments u/s. 153A r.w.s. 143(3) of the Act. In this situation, it cannot be said that the assessees ..... X X X X Extracts X X X X X X X X Extracts X X X X
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