2023 (3) TMI 1052

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of law:- "1. Whether on the facts and in the circumstances of the case the ITAT was correct in law in not considering the fact that reopening of assessment on the basis of the factual error pointed out by the Revenue Audit Party is valid ? 2. Whether on the facts and in the circumstances of the case the ITAT was correct in setting aside the order of the CIT (A) by holding that the reopening of notice was issued beyond four years and the assessment were made on the same set of fact with no failure on the part of the assessee to disclose material facts would tantamount to change of opinion ?" 2. The Assessee is a hereditary of Raja of Pudukottai and he is assessed to payment of tax in the status of HUF and individual. One....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Section 54F of the Act. 3. Challenging the order of re-assessment dated 29.12.2016, the assessee filed an appeal before the Tribunal by contending that the re-assessment notice dated 07.03.2016 was issued under Section 148 of the Act beyond four years from the end of the assessment year under consideration. It was further contended that the assessee had fully and truly furnished all the material particulars to complete the assessment and the assessing officer did not show that there is failure on the part of the assessee to disclose all the material particulars. While so, the re-assessment proceedings initiated by the assessment officer, based on a mere change of opinion, is legally impermissible. In this context, on behalf of the assess....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....was issued beyond the period of four years. The learned Standing Counsel therefore prayed for allowing this appeal by setting aside the order of the Tribunal. 6. We have heard the learned Standing counsel for the appellant and perused the materials placed on record, including the order passed by the Tribunal, which is impugned herein 7. Admittedly, the assessee filed return of income for the assessment year 2010-2011 on 28.03.2011. The assessment was completed on 31.01.2013. While so, based on certain errors pointed out by the revenue audit, the assessing officer issued notices dated 07.03.2016 and 16.06.2016 under Section 148 of the Act to re-open the assessment under Section 147 of the Act. Subsequently, the Assessing Officer comple....