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2018 (11) TMI 325 - ITAT DELHIReopening of assessment u/s 147 - Addition under the head undisclosed income - short term capital gain addition - Assessing Officer has mentioned that the assessee is not assessed to tax - Held that:- AO's conclusion are factually incorrect as Exhibit 1 shows that the assessee has filed return of income on 29.09.2010 electronically. Exhibit 12 is a letter issued by the ITO, Ward 1(2), Noida asking the assessee to furnish details in respect of purchase of immovable property stating that the assessee has purchased the said property without quoting PAN. Exhibit 13 is the reply filed by the assessee explaining the financial transactions. Exhibit 16 is another notice by the ITO, Ward – 1(2) asking the assessee to furnish information in respect of financial transactions. Surprisingly, this notice contains PAN of the assessee. In the earlier notice, as mentioned elsewhere, the same ITO observed that the assessee has entered into transaction without quoting PAN. Exhibit 17 is the reply filed by the assessee. Exhibit 18 is again a notice by the same ITO asking the assessee to once again furnish information regarding financial transactions. Exhibit 19 is the reply filed by the assessee. All these facts when considered with reasons recorded for reopening of the assessment would lead to only one conclusion that the reasons recorded for reopening the assessment are devoid of any application of mind. In our considered opinion, such reopening cannot be upheld. - Decided in favour of assessee
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