2010 (1) TMI 75

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....of the Act and concluded in terms of section 147 of the Act. 3. The income determined is at Rs. 1.30 lakh, which is the same amount as had been declared by the assessee under the Voluntary Disclosure of Income Scheme, 1997, disclosing this amount as undisclosed income for the assessment year in question. 4. However, the income-tax authorities had declined to accept the declaration under the Scheme for the reason that while the assessee declared this income for the assessment year as on December 31, 1997, he had not paid the tax payable as per the declaration either on that date or within three months therefrom, i.e., by or before March 30, 1998, but had in fact paid the tax due on the declaration only on March 31, 1998. 5. The asse....

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....have been reopened to bring to tax the income escaped assessment. Hence, I have reason to believe that income chargeable to tax has escaped assessment." 8. was more in the nature of change of opinion by the assessing authority without due application of mind and the reopening was not sustainable. In this view of the matter, the Tribunal allowed the appeal, set aside the order passed by the assessing authority and the affirming order passed by the first appellate authority. 9. It is aggrieved by this order of the Tribunal, the Revenue is in appeal. 10 The appeal had been admitted to examine the following questions of law: "(1) Whether the Tribunal was correct in holding that the Assessing Officer had to record his reasons and bas....

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....rst appellate authority. Learned counsel would submit that the reopening was well within the scope of section 147 of the Act; that the declaration filed by the assessee definitely can constitute information within the meaning of section 147 of the Act and in support of this submission, reliance is placed on a Division Bench decision of the Punjab and Haryana High Court in the case of Sat Narain v. CIT [2010] 320 ITR 448 (P & H). 13. While the question as to whether a declaration filed by the assessee under the voluntary disclosure scheme can constitute information for the purpose of reopening under section 147 may be a debatable point and either way may be the position, it is not open for this court to consider the matter now, as the Tri....