1998 (3) TMI 124

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....e following question has been referred to this Court for the opinion of this Court: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the reopening of the assessment proceedings under s. 147(a) of the IT Act, 1961, was legally invalid?" 2. The assessee filed return of income in July, 1974, showing income from house property at Rs. 6,785. ....

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....Act. In the reassessment under s. 143(3) r/w s. 147(a) the total income assessed was Rs. 22,77,200. Thereafter, the assessee has challenged the reassessment order before the CIT(A). Before the CIT(A) it was submitted that all material information relevant to the construction of the house property was furnished before the AO and the rent received by the assessee was also duly disclosed. It was also....

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..... 6. Heard learned counsel for the Revenue. None appears for the assessee. The admitted facts are that the assessment has been completed on the basis of material placed by the assessee in respect of the construction of the house and also duly disclosed the rent received of the house so constructed. The material fact that the assessee along with his two wives has constructed the house, was discl....