TaxTMI 
TaxTMI 
2018 (11) TMI 1925
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....g the relevant assessment year, the assessee was constructing independent residential units. Assessee filed its return of income on 27.09.2008 declaring total income of Rs. 76,34,100/- after claiming deduction of Rs. 2.69 Crs u/s 80IB(10) of the Act. The return was processed u/s 143(1) of the Act on 02.09.2009 and subsequently reopened u/s 147 of the Act after recording reasons. Accordingly notice u/s 148 of the Act was issued to the assessee. 3. Assessee filed its reply on 10.04.2013 requesting to treat the return filed on 27.09.2008 as having been filed in response to notice u/s 148 of the Act and sought for the reasons recorded. Assessee filed its objections to proceedings u/s 147 of the Act which were disposed of by the A.O. vide a s....
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....ssessing Officer u/s 148 is without jurisdiction as the ld A.O. has not brought on record any fresh tangible material on record and therefore is invalid, bad in law and is liable to be quashed. 3. The CIT ought to have appreciated that for initiating reassessment u/s 147, the reason for the assessing officer to believe that the income has escaped assessment should be borne out of material and a mere change of opinion will not be sufficient to justify the reassessment proceedings. 4. The CIT ought to have appreciated that the only reason for reopening the assessment of the appellant is a revenue audit objection raised by the CAG. The appellant has filed application to CAG under the RTI Act, and has obtained the copies of th....
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.... CIT ought to have appreciated that the built up area of the residential houses exceeded 1500 sft only if the area of the 'projected terrace' and 'portico' were included and not otherwise. 11. The CIT ought to have appreciated the order of the Hon'ble High Court in W.P. No.27488 of 213 wherein the Hon'ble Court has held that any adverse order shall not be given effect without the leave of the Hon'ble court." 5. As regards Grounds No.2 to 4 are concerned, the Learned Counsel for the Assessee submitted that though the initial assessment was completed u/s 143(1) of the Act, the A.O could not have reopened the assessment unless he had fresh tangible material before him to believe that the income of the assessee has escaped assessmen....
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....al which has come to his knowledge, subsequent to such an assessment u/s 143(1) of the Act. The relevant paras of the said judgment are reproduced hereunder for ready reference:- "Held, dismissing the appeal, that the reasons disclosed that the Assessing Officer reached the belief that there was escapement of income "on going through the return of income" filed by the assessee after he accepted the return under section 143(1) without scrutiny, and nothing more. This was nothing but a review of the earlier proceedings and an abuse of power by the Assessing Officer. The reasons recorded by the Assessing Officer did confirm the apprehension about the harm that a less strict interpretation of the words "reason to believe" vis-à-....