2015 (7) TMI 547

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..... In respect of the tax period from April 2010 to March 2011, petitioner filed its returns under Section 35 of the Act. The said returns were accepted under sub-section (1) of Section 35 of the Act. In fact, during that period petitioner had executed certain civil works in the form of construction of roads, drains, culverts and laying of HDPE dual water supply pipeline at the proposed IT/BT park near Bangalore International Airport, Bangalore. The said contract was awarded by Karnataka Industrial Area Development Board (KIADB) in favour of M/s. Amrutha Constructions Private Limited, Bangalore, as the main contractor and the latter in turn sub-contracted the entire works to the petitioner herein. After the audit of the books of accounts of t....

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.... review assessment order or pass any fresh order or even modify that order except under sub-section (2) of Section 39 of the Act only when further evidence has come to the notice of the assessing authority. He would submit that reassessment proceedings would attain finality when once an order is made under sub-section (1) of the Section 39 of the Act and a fresh reassessment cannot be made except when further evidence has come to the notice of the assessing authority. In the instant case, material evidence was already before the assessing authority in the form of TDS Certificate which was issued by KIADB in the name of the petitioner and there was no other evidence which came to light after passing of the assessment order as per Annexure-C.....

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....instant case assessment is for a period 2010-11 and therefore the amended provision would not apply to the case on hand. 7. Sub-section (2) of Section 39 reads as under: "39. Re-assessment of tax (2) Where after making a re-assessment under this Section.- (a) any further evidence comes to the notice of the prescribed authority; or (b) if the prescribed authority has reason to believe that the whole or any part of the turnover of a dealer in respect of any tax period has escaped re-assessment to tax; or (c) tax has been under re-assessed; or (d) has been re-assessed at a rate lower than the rate at which it is assessable under this Act; or (e) Any deductions or exemptions have been wrongly allowed in respect thereof, ....