2000 (8) TMI 29

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....gs under section 147(a) of the Income-tax Act, 1961, for the assessment year 1987-88 because there was no specific material with the Assessing Officer for coming to the conclusion that any specific income for the assessment year in question had escaped assessment and, accordingly, the initiation of proceedings under section 147(a) against the assessee by the Assessing Officer were invalid and the reassessment framed thereunder against the assessee by the Assessing Officer is void ab initio particularly when neither there were any reassessment proceedings initiated nor any such reassessment made nor there was any ground of appeal to this effect for the said assessment year ?" We have heard learned counsel for the appellant and have carefu....

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..... 172 (ASR/1989) which was decided on July 30, 1993, photocopy of which has been placed on record by the assessee at page 5 of the paper book. On this point, it was clearly held by the Bench that the Assessing Officer has no material to reopen the assessment for the assessment year 1975-76, as there was no specific information at all relevant to the assessment year under consideration and as such the reassessment proceedings were correctly held to be invalid by the Commissioner of Income-tax (Appeals). The Assessing Officer even for these assessment years, in question, has (not ?) been able to add anything more to the facts in the assessment order in the question. In order to give a reasonable opportunity to the Revenue, the Bench asked ....

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.... year under consideration and as such the reassessment proceedings were invalid and consequently, we further hold that there was no basis with the lower authorities for estimating the income of the assessee as income from purchase and sale of the evacuee properties and, hence, we can conclude that the lower authorities have no basis to make any addition in the income of the assessee as income earned by the assessee from purchase and sale of the evacuee properties. This very conclusion was also drawn by this Bench for the assessment year 1975-76 and we have no reason to differ with the conclusion drawn earlier on the basis of some material to which the Department has not been able to add anything more." Shri Sawhney argued that the order ....