TMI Blog2022 (12) TMI 225X X X X Extracts X X X X X X X X Extracts X X X X ..... vision limiting the time within which any action for assessment, reassessment or recomputation may be taken. From a perusal of sub-section (1) of Section 150 of the Act, we find that the said provision is basically to be employed along with Section 148 of the Act to give effect to orders passed in appeal, reference or revision. It is not intended to re-open an assessment. Already order of the Tribunal has been given effect to by the assessing officer for the assessment year 1995-96 by the consequential order dated 21.12.2005. That being the position, it was not open to the assessing officer to have once again issued a notice under Section 148 r.w.s. 150 of the Act to reopen the assessment for the assessment year 1995-96, that too, on a d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... authorities. 6. Petitioner is an assessee under the Act. By the assessment order dated 19.03.1996 passed by the assessing officer under Section 143(3) of the Act for the assessment year 1993-94, total income of the petitioner was assessed at Rs.41,94,430.00. This included income from long term capital gains to the extent of Rs.40,70,571.00. 7. Petitioner filed appeal before the Commissioner of Income Tax (Appeals) V, Hyderabad (briefly CIT(A) hereinafter). However, the appeal filed by the petitioner was dismissed by CIT(A) vide the order dated 30.08.1996. 8. Thereafter, petitioner filed further appeal before the Income Tax Appellate Tribunal, Hyderabad Bench A , Hyderabad (briefly the Tribunal hereinafter) which was registere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 20.03.2007 reads as under: Notice under Section 148 r.w.s.150(1) of the Income Tax Act, 1961 Office of the Income-tax Officer, Ward-9(2) 13th Floor, Gagan Vihar, Nampally, Hyderabad. PAN/GIR No.AEJHPR4824C Date: 20-03-2007 To Mr Hemlatha Rathi, 22-2-104, Old Kabutarkhana, Hyderabad. Whereas I have reason to believe that your income (the income of------- in respect of which you are assessable) tax for the assessment year 1995-96 has escaped assessment within the meaning of Section 147 of Income-Tax Act, 1961. I, therefore, propose to assess/re-assess the income (recompute loss/depreciation allowance) for the said assessment year. I hereby require you t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny other provision limiting the time within which any action for assessment, reassessment or recomputation may be taken. 12.1. From a perusal of sub-section (1) of Section 150 of the Act, we find that the said provision is basically to be employed along with Section 148 of the Act to give effect to orders passed in appeal, reference or revision. It is not intended to re-open an assessment. Already order of the Tribunal has been given effect to by the assessing officer for the assessment year 1995-96 by the consequential order dated 21.12.2005. That being the position, it was not open to the assessing officer to have once again issued a notice under Section 148 read with Section 150 of the Act to reopen the assessment for the assessment y ..... X X X X Extracts X X X X X X X X Extracts X X X X
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