TaxTMI 
TaxTMI 
2026 (4) TMI 46
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....eopened. Notice u/s 148 of the Act dated 31.03.2014 was issued. Assessee vide letter dated 19.11.2014 submitted original return of income. Reasons for reopening of assessment were provided to the assessee. Notice u/s 143(2) of the Act dated 17.02.2015 was issued. Sh. P.K Taparia, CA/Authorized Representative of the assessee attended the proceedings from time to time and filed written submissions. On completion of proceedings, Ld. AO vide order dated 17.03.2015 made additions of Rs. 21,14,556/, and Rs. 34,71,865/-. Against order dated 17.03.2015 of Ld. AO, the assessee filed appeal before the Ld. CIT(A) which was partly allowed vide order dated 23.05.2017. 3. Being aggrieved, the appellant assessee preferred present appeal on following grounds: "1. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in assuming jurisdiction and in framing the impugned reassessment order and that too without complying the mandatory conditions of section 147 to 151 of the Income Tax Act, 1961. 2. That in any case and in any view of the matter, action of Ld. CIT(A) in confirming the action of Ld.....
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....al assessment proceedings u/s 143(3) (PB 100) were made and the reopening is done after 4 years from the end of the relevant assessment year (PB 12), however, the conditions of first proviso to section 147 are not met as the reasons recorded (PB 13) do not spill out as to what particulars of income has not been disclosed by the assessee truly and fully. a. PB 100 is the copy of assessment order dated 31.03.2007 passed u/s 143(3) in the case of assessee for AY 2007-08. b. PB 12 is the copy of notice u/s 148 dated 31.03.2014 which shows that reopening has been made after the 4 years from the end of relevant assessment year. c. PB 13 is the copy of reasons recorded which shows that it has no where been spelt out as what particulars income has not been disclosed by the truly and fully. d. PB 118-119 is the detailed submission made before Ld. CIT(A) on this count which has also been captured by Ld. CIT(A) at Page 3 of his order. e. Reliance is placed on the following judicial decisions: (i) Shabrawal Properties Industrial Pvt. Ltd. vs. ITO, (2016) 382 ITR 0547 (Del.) (ii) Himson textile Engineering Industries Ltd (2013) 83 D....
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....cts which is bad-in-law. The issue of capital gain and exemption u/s 54F was exhaustively considered during the original assessment proceedings. a. PB 2-3 is the copy of computation of income where it is evidence that assessee has claimed exemption u/s 54F. b. PB 4 is the copy of balance sheet as on 31.03.2007 of the assessee which would show that assessee sold plot at South City - I and a plot at Chhatarpur. c. PB 8-9(9) is the copy of notice u/s 142(1) dated 12.05.2009 filed by assessee before Ld. AO during the course of the original assessment proceedings wherein a specific question was asked to provide details of income from capital gains with evidences. d. PB 10-11 is the copy of reply filed by assessee before Ld. AO during the course of original assessment proceedings provided details of capital gain along with the above-mentioned computation of income and balance sheet and purchase and sale deeds were also provided. e. PB 129-133 is the detailed submission on this count made before Ld. CIT(A) which has also been captured by Ld. CIT(A) at Page 7-8 of his order. f. Reliance is placed on the following judicial decisions: ....
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....O at that time and the income of the assessee was assessed at the income shown in the said computation of income. This claim was also made by the assessee during the course of reassessment proceedings. 5.3 PB 2-3 is the copy of computation of income where it is evidence that assessee has claimed exemption u/s 541 and the total income was shown at Rs. 4,61,182/-. 5.4 PB 4 is the copy of balance sheet as on 31.03.2007 of the assessee which would show that assessee sold plot at South City I and a plot at Chhatarpur. 5.5 PB 8-9(9) is the copy of notice u/s 142(1) dated 12.05.2009 filed by assessee before Ld. AO during the course of the original assessment proceedings wherein a specific question was asked to provide details of income from capital gains with evidences. 5.6 PB 10-11 is the copy of reply filed by assessee before Ld. AO during the course of original assessment proceedings provided details of capital gain along with the above-mentioned computation of income and balance sheet and purchase and sale deeds were also provided. 5.7 PB 100 is the copy of assessment order passed u/s 143(3) dated 09.12.2009 in the case of assessee for AY 2007-08 wherein Ld. AO duly rec....
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....m Ltd., (1999) 237 ITR 392, (AP) (vii) CIT vs. H.P Forest Corporations Ltd., 320 ITR 54, (HP) (viii) Gujarat Gas Co. Ltd. vs. JCIT, (2000) 254 ITR 0084, (Guj.). 6. Ld. Departmental Representative relied on the order of Ld. CIT(A). 7. From examination of record in light of aforesaid rival contention, it is crystal clear that Ld. CIT(A) vide order dated 23.05.2017 confirmed the action of Ld. AO not allowing exemption u/s 54F amounting to Rs. 21,14,556/- as claimed by assessee and confirmed addition of Rs. 34,71,865/- income from other sources and not treating income as rent received from agricultural land. 7.1 PB 214-224 (216) is the copy of purchase deed of the said property a Millenium Plaza purchased by assessee in AY 2003-04 which describes the said property as "Unit No. 510B, in tower "B" having Super built up Area 689 Sq. Ft. (64.01 Sq. Meters) of office space comprises in 5th floor, MILLENNIUM PLAZA.... Further, this deed thereafter referred this property as "office space". This clearly shows that this property is not a residential property but a commercial one. 7.2 PB 144 is the copy of letter dated 14.02.2017 filed by assessee before Ld. AO stat....
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...., Ld. CIT(A) confirmed the addition to the extent of Rs. 27,36,217 (Rs. D 34,71,864 less Rs. 7,35,647/-). 7.8 PB 138-142 is the copy of written submissions filed before Ld. CIT(A) on this issue where it has been submitted that assessee is active engaged in agricultural activities and her educational education qualification is M.Sc. (agriculture). 7.9 PB 143 is the copy of reply dated 14.07.2017 filed by assessee before Ld. CIT(A) submitting that agricultural income of assessee includes rent received on lease of agricultural land to M/s Garden View Escape (P.) Ltd. for the purpose of growing of sapling and plantations. 7.10 PB 145-146 is the copy of reply dated 20.03.2017 filed by the assessee before Ld. CIT(A) submitting that purchase bill for material purchased by the assessee for carrying on agricultural activities and further provided evidence to show that M/s Garden View Escape (P.) Ltd. is engaged in produce of agricultural products in form of their return of income, audited financial statements and tax audit report. 8. PB 180 is the copy of letter dated 06.04.2017 filed by the assessee before Ld. CIT(A) submitting that assessee is showing rental income for agricul....