2016 (3) TMI 831

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....S N Divatia, Adv ORDER ( Per : Honourable Ms. Justice Harsha Devani ) 1. The appellant - revenue in this appeal under section 260A of the Income Tax Act, 1961 (hereinafter referred to as "the Act") has challenged the order dated 2nd February, 2015 made by the Income Tax Appellate Tribunal, Ahmedabad 'B Bench (hereinafter referred to as "the Tribunal") in ITA No.1957/Ahd/2011 by propos....

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....6 determining a total income of Rs. 2,99,980/-. Subsequently, the Assessing Officer reopened the assessment by issuing notice under section 148 of the Act on 22nd March, 2010. The reasons recorded for reopening the assessment read thus:- "The assessee has trading business in agriculture produces has shown shortage of 2.52% as against 0.0092% to 0.35% shown by other 5 parties in audit memo. This....

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....opinion was not of the Assessing Officer but clearly of the audit party and accordingly, directed that the reassessment proceedings be annulled. Revenue carried the matter in appeal before the Tribunal but did not succeed. 3. Heard Mr. Sudhir Mehta, learned senior standing counsel for the appellant and Mr. S.N. Divatia, learned advocate for the respondent. 4. As can be seen from the reasons ....

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....for any assessment year, he may reopen the assessment in terms thereof. Thus, it is the satisfaction of the Assessing Officer which is necessary for reopening the assessment. In the present case, on a plain reading of the reasons recorded, it is evident that no such satisfaction has been recorded by the Assessing Officer. The Commissioner (Appeals), therefore, rightly came to the conclusion that t....