1979 (8) TMI 100

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....leged by the Revenue that subsequently the Revenue came into the possession of some information which is claimed to have been received after completion of the assessments and accordingly the assessments for both the years were reopened by issuance of appropriate notices. The information having come to the possession of the Revenue was an information within the meaning of s. 147(b) of the IT Act, 1961. The information was that the amount of Rs. 16,327 and further amount of Rs. 23,744 for the asst. yrs. 1974-75 and 1975-76 respectively, since claimed by the assessee firm as expenses under the expenses head "Sundray expenses", contained and included expense of non-admissible nature. In the original assessments, the ITO while computing the tota....

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....s also the Revenue has addressed us in one set. Since the impugned order of the Commr. is a common consolidated one for both the asst. yrs. under appeal, we, on our part, are under the circumstances obliged to disposed of both the appeals by way of a common consolidated order for the sake of convenience. 6. The ld. counsel has vehemently argued that within the meaning of s. 147(b) of the Act, there has neither been any omission nor any failure to disclose fully and truly all the material facts necessary for the purpose of the assessments in relation to both the asst. yrs. under appeal and further, that there was no information in consequence thereof, with the ITO on which the said officer could have reasons to believe that in chargeable ....

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....ow authorities and the reasonings contained therein. 8. We have given our careful consideration to the submissions made by the rival parties. We have also perused very carefully the assessment orders passed for both the asst. yrs. under appeal at the original stage as also at the reassessment stage, also we have gone through very carefully the impugned order of the Commr. which is a common consolidated one for both the asst. yrs. On the facts and in the circumstances of the case in appeal before us and in relation to both the asst. yrs. the subject matter "sundry expense claimed" was with the ITO at the original stage, when he has firmed the assessments and out of those expenses, on estimate basis, he has since added back and disallowed ....