2014 (11) TMI 353

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....eard Mr. Chhotaray, learned counsel, appearing for the Revenue in support of this Appeal. The Revenue is in Appeal against the concurrent findings which have been rendered by the Commissioner of Income Tax (Appeals), Mumbai, in his order dated 31st January, 2011 and that of the Tribunal rendered on 16th May, 2012. 2] The assessment year in question is 200304. 3] The case was of reopening of ....

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.... the expiry of the assessment year in question that is on 25th March, 2009, a notice under section 148 of the Act for reopening of the assessment under section 147 was served on the Assessee on 28th March, 2009. The Assessee objected to the reassessment and on the grounds which have been noted by both the Commissioner and the Tribunal. The first ground was that the power could not have been exerci....

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....nder section 148 of the Act is after 4 years from the end of relevant assessment year 2003-04. The reasons set out in the notice are not such as would enable the authorities to record a finding in favour of the Revenue. This was not a case where there was a failure to file return of income. This was not even a case of the Assessee's failure to make a full and true disclosure of all material fa....

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.... as found by the Hon'ble Supreme Court and equally this Court in the case of Crown Consultants P. Ltd. V/s. Commissioner of Income Tax and another reported in (2014) 362 ITR 368 that a fresh objection has been raised before the Court which the Assessing Officer had no occasion to deal with. That is why the Assessee was not assisted by the Court in its appellate jurisdiction. The Division Bench....