Appeal against Tax Tribunal decision on reassessment, jurisdiction, interest levy, and Vivad Se Vishwas Scheme.

The appellant challenged the Income Tax Appellate Tribunal's order, alleging perversity in considering certain proceedings not included in the reasons for reopening the assessment. The Tribunal's decision was disputed on the grounds of jurisdiction for reassessment, reopening beyond four years, change of opinion, and the levy of interest u/s.234B. The judgment highlighted the introduction of the Vivad Se Vishwas Scheme for resolving tax disputes and directed the appellant to file the necessary form under the Act by a specified date. The appeal was disposed of with liberty for restoration based on the outcome of the declaration filed under the Act.

---

---

Issues:
1. Perversity in the order of the Income Tax Appellate Tribunal
2. Jurisdiction for Re-assessment
3. Reopening beyond 4 Years
4. Change of Opinion
5. Interest u/s.234B

Perversity in the order of the Income Tax Appellate Tribunal:
The appellant challenged the order of the Income Tax Appellate Tribunal, alleging perversity in considering certain proceedings not included in the reasons for reopening the assessment. The Tribunal was accused of introducing new material in the second appeal stage without proper citation. The issue revolved around whether the Tribunal's decision was based on fresh evidence or a change of opinion, and if the reassessment was valid beyond the four-year limit without the assessee's failure to disclose material facts.

Jurisdiction for Re-assessment:
The Tribunal's right in upholding the jurisdiction of the Assessing Officer for reopening the assessment under Section 147 of the Income Tax Act 1961 was questioned. The validity of the reassessment beyond four years from the end of the Assessment Year without the assessee's failure to disclose all material facts was a key concern.

Reopening beyond 4 Years:
The Tribunal's decision not to cancel the reassessment after four years without the assessee's failure to disclose all necessary material facts was disputed. The issue centered on whether the reassessment was justified and if the assessee had indeed failed to disclose all relevant information.

Change of Opinion:
The Tribunal's ruling that there was no change of opinion despite the assessment being based on information available during the scrutiny assessment was contested. The question arose regarding the validity of the reassessment solely on the Partition Deed, which was already known during the initial assessment.

Interest u/s.234B:
The Tribunal's decision to levy interest u/s.234B in the reopened assessment was challenged. The issue focused on the treatment of advance tax and whether the provisions of Section 234B should apply in the reassessment. The validity of the reassessment without issuing notice u/s.143(2) was also questioned.

The judgment highlighted the introduction of the Vivad Se Vishwas Scheme, providing the assessee with an opportunity to resolve tax disputes. The Act allowed for the declaration of disputed tax and specified the procedures for resolving tax arrears. The judgment directed the appellant to file the necessary form under the Act by a specified date, with the assurance of timely processing and appropriate orders. The appeal was disposed of with the liberty for restoration based on the outcome of the declaration filed under the Act.

---