TMI Blog2023 (12) TMI 215X X X X Extracts X X X X X X X X Extracts X X X X ..... uest, these evidences were furnished. In order to justify whether the sale of property comes under capital gain income or not, the specific request was made calling upon the petitioner to file the sale deeds. The petitioner had disclosed the information with regard to the sale of the agricultural land and all the particulars with regard to sale of agricultural land was disclosed before the Assessing officer in full extent. Further, a perusal of the materials placed before this Court would suffice to arrive at a conclusion that there is no failure on the part of the petitioner with regard to providing material facts and the notice issued under Section 148 and 149 of the Act for re-opening assessment for the Assessment Year 2013-14 is not sustainable and the same is liable to be set aside - Decided in favour of assessee. - Hon'ble Mr. Justice Krishnan Ramasamy For the Petitioner : Mr.Srinath Sridevan Senior Counsel for Jyotsna Sivakumar For the Respondents : Mr.B.Ramana Kumar Standing Counsel ORDER This writ petition is filed challenging the reopening notice bearing Notice No.ITBA/AST/S/148/2020-21/1031938536(1) dated 30.03.2021, issued by the 1st respon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... py of the ledger accounts of Kyanallur property purchase, copy of the sale deed of kyanallur property and copy of the sale deed of Kyanallur property. Therefore, he would submit that nothing has been concealed on the part of the petitioner in as much as possible he has furnished all the details called for by the Assessing Officer. Only in the event of failure on the part of the assessee to disclose the particulars of income, the assessment can be re-opened in terms of Section 147 of the Act. Therefore, no other circumstances warrants for reopening the assessment as well as the consequential order rejecting the petitioner's objections for reopening. 4. On the other hand, the learned Standing Counsel appearing for the respondents vehemently argued stating that it is only for clarity purpose this re-assessment notice has been issued and no prejudice would be caused in providing the information by the petitioner. The petitioner was asked to clarify that whether it is really an agricultural land and the income earned is through the sale of said agricultural land, which is around nine crores. Therefore, for the interest of the revenue, the respondents have ordered for re-opening a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year): Provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year: Provided further that nothing contained in the first proviso shall apply in a case where any income in relation to any asset (including financial interest in any entity) located outside India, chargeable to tax, has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in any entity) located outside India. Explanation 3. For the purpose of assessment or reassessment under this section, the Assessing Officer may assess or reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings under this section, notwithstanding that the reasons for such issue have not been included in the reasons recorded under sub-section (2) of section 148. Explanation 4. For the removal of doubts, it is hereby clarified that the provisions of this section, as amended by the Finance Act, 2012 (23 of 2012), shall also be applicable for any assessment year beginning on or before the 1st day of April, 2012. 9. A perusal of the above provision would reveal that the reopening/ re-assessment can be made under Section 147 of the Act in the event if there is failure on the part of the assessee to make a return under Section 139 or in response to a notice issued under sub-section (1) of Section 142 or Section148 or to disclose fully and truly all the material facts necessary for re-opening assessment for that assessment year. 10. In the present case, the notice issued u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding the entire material facts fully and truly cannot be accepted. Further, he would submit that the explanation also provides other evidences . It is not that without specific request, these evidences were furnished. In order to justify whether the sale of property comes under capital gain income or not, the specific request was made calling upon the petitioner to file the sale deeds. 12. The petitioner had disclosed the information with regard to the sale of the agricultural land and all the particulars with regard to sale of agricultural land was disclosed before the Assessing officer in full extent. Further, a perusal of the materials placed before this Court would suffice to arrive at a conclusion that there is no failure on the part of the petitioner with regard to providing material facts and the notice issued under Section 148 and 149 of the Act for re-opening assessment for the Assessment Year 2013-14 is not sustainable and the same is liable to be set aside. Accordingly, the reopening notice bearing Notice No.ITBA/AST/S/148/2020-21/1031938536(1) dated 30.03.2021 issued by the 1st respondent herein, as well as the consequential order bearing DIN ITBA/AST/F/17/2021-22/1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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