TaxTMI 
TaxTMI 
2013 (10) TMI 1183
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....ion. This income tax application under Section 256 (2) of the Income Tax Act for making reference arises out of the order of the Income Tax Appellate Tribunal dated 17th May, 1995 in ITA No.7527/Del of 1989 relating to the assessment year 1984-85. Brief facts giving rise to the application are as follows. The assessment of the assessee as individual was completed under section 143 (1) on 26.11.1986 on returned income of Rs.55,880/- as against the returned income of Rs.54,270/-. A notice was given to the assessee under Section 148 for reopening of the assessment on the ground that Shri Hari Ram, the assessee had filed affidavit in the case of M/s Harbhajan Das & Sons, Agra, that he had deposited a sum of Rs.2,25,000/- with the firm on diff....
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....n made in the Trust or if there was no case for addition in the case of the Trust then there should have been positive finding on the basis of the fact that investment and income belongs to the individual. In the background the Appellate Authority found that notice under Section 148 was not based on any information regarding escapement of the income in the hands of the appellant individually. The Income Tax Appellate Tribunal recorded findings as follows:- "Assessee appealed to the CIT (A) and challenged the validity of the notice issued u/s 148. The CIT (A) found that the order u/s 263 in the case of the trust was cancelled by the Tribunal and the asstt. orders in the case of trust restored. the Reference Application against the order of....
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....under section 148 of the I.T. Act, 1961 for the assessment year 1984-85? (2) Whether, on the facts and in the circumstances of the case, the Hon'ble ITAT was correct in law in dismissing the appeal of the revenue and in confirming the finding of the learned CIT (A), that no reasons were found to be available for initiation of action u/s 148 and had not spelt out the action u/s 147 (a) or (b), without going through the detailed reasons recorded by the A.O. u/s 147 (a) of the I.T. Act, 1961 vide order sheet entry dated 16.1.1987? (3) Whether, in view of the ratio of Hon'ble Allahabad High Court's decision in the case of S. Gyani Ram & Co. vs. ITO (47 ITR 472) the Hon'ble ITAT was correct in law in holding that the reopening of the case u/s ....