2025 (7) TMI 683

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt year 2009-10. The revenue has raised the following substantial questions of law for consideration : a) Whether on the facts and in the circumstances of the case, the Learned Tribunal was justified in law to quash the reopening of assessment on account of lack of reason to believe that the income has escaped assessment ignoring the findings of the Assessing Officer based on information being set of fresh and new tangible evidence? b) Whether on the facts and in the circumstances of the case, the Learned Tribunal was justified in law to hold the reopening of assessment as invalid due to change of opinion since the recorded transactions in books were already subjected to scrutiny despite the fact that the reopening was initiated on the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Assessing Officer completed the assessment under section 143(3) by order dated 28th December, 2012 accepting the submissions of the assessee. Subsequently, notice was issued for reopening the assessment. As could be seen from the reasons for issuance of notice under section 148, the Assessing Officer relied upon a report termed as 'suspicious transaction report' in the case of M/s. S. R. Sales Corporation and based on that the Assessing Officer opined that he has reason to believe that income of the assessee chargeable to tax has escaped assessment within the meaning of Section 147 of the Act. The assessee submitted a detailed reply to the notice proposing to reopen the assessment. However, the reply did not find favour with the Assessing....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cise declaration issued by M/s. S. R. Sales Corporation, copy of the audited receipt, copy of the road permit, copy of the packing list. Apart from the above, the assessee also produced the relevant documents which are issued under the provisions of the Value Added Tax Act. It cannot be disputed by the revenue that the documents which have been issued by the VAT authorities are issued after a thorough check of the goods while in transit by way of an inter-state road movement. In this regard the assessee has enclosed about fifty documents in the form of a paper book before the Assessing Officer. That apart, the assessee produced audited books of accounts along with all supporting bills and vouchers and the same were accepted by the Assessing....