2018 (6) TMI 1124

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.... Sri .P. Gopinath, Sri.P. Benny Thomas, Sri.K. John Mathai And Smt.Preetha S. Nair JUDGMENT Vinod Chandran, J. The appellant is the Commissioner of Income Tax, who is aggrieved with the order of the Tribunal, which set aside the reassessment under Section 147 read with Section 148 of the Income Tax Act, 1961, on the ground of there being no suppression of material facts. The re-assessment....

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....nse to the notice under Section 148 on 15-04-2008 and a further notice under Section 143(2) on 24-02-2008 was issued. The reasons recorded for re-opening of assessment was communicated to the assessee and an order was passed as Annexure A; reducing considerably the deduction granted under Section 80HHC. Aggrieved by such order, the assessee was before the first appellate authority which stood reje....

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....an Nair's case being declaration of the law from the very inception and always retrospective: i. Is not the return originally filed by the assessee inconsistent with the declaration of the law by the Supreme Court ? ii. The original return being inconsistent with the decision of the Supreme Court from the inception of filing the return, is not the return filed not fully and t....

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....d not be taken up under Section 147. Hence as of now there is no appeal from the order which interfered with assessment and the first appellate order, on grounds of invalidity of a re-assessment under Section 147. 5. We also notice that the returns originally filed was in accordance with the declaration of law of this Court in CIT v. K.Rajendranathan Nair, [2004] 265 ITR 35 . The said decision ....