2024 (3) TMI 1014 - HC - Income Tax

Validity of reopening of assessment - prerequisite for reopening assessment - Non disposal of objections given by appellant against reassessment - HELD THAT - As carefully perusing the materials placed on record, we find that the learned Tribunal on considering the factual position rightly noted that the objections given by the appellant for initiation of re-assessment were not disposed of by the AO. The law on the subject has been rightly taken note by the Tribunal and we find the matter being entirely factual, no question of law much less substantial question of law arise for consideration.

Summary

Issues involved:
The judgment involves the issue of challenging the order of the Income Tax Appellate Tribunal under Section 260A of the Income Tax Act, 1961 for the assessment year 2013-14.

Reopening of assessment u/s 147:
The High Court considered whether the ITAT erred in law in quashing the reopening of the assessment u/s 147 of the Income Tax Act, 1961. The Assessing Officer had recorded reasons to believe that income had escaped assessment for the relevant year, obtained proper approval, communicated the same to the assessee, and provided an opportunity of being heard. The Court noted that the objections given by the appellant for the re-assessment were not disposed of by the Assessing Officer. The Tribunal correctly considered the factual position and found no substantial question of law arising for consideration, as the matter was entirely factual. Therefore, the appeal was dismissed, along with the stay application.

Conclusion:
The High Court dismissed the appeal challenging the ITAT's decision on the reopening of assessment u/s 147, as no substantial question of law arose for consideration based on the factual findings.