9911796707
TMI Blog1988 (6) TMI 84X X X X Extracts X X X X X X X X Extracts X X X X ..... ening of assessment under s. 147 was justified. Relevant facts are that original assessment was made on 24th Sept., 1980 under s. 143(1) The ITO reopened the said assessment by servicing the notice under s. 148 for the reason that the partners have low withdrawals for house-hold expenses. Assessee claimed before the ITO that all relevant facts were furnished at the time of original assessment Ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ddition was made on account of low household withdrawals therefore there is no justification for disturbing the profit rate. On the other hand learned departmental Representative, Shri A.S. Choudhary relied on the order of the AAC. 4. We have heard the rival submissions and considered the material on record The facts are not in dispute that assessee has declared the withdrawals by the partners f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nto this aspect of the matter. The ITO had not called upon L to explain the source of the amount standing in her name. There was no material to indicate that the sum belonged to the assessee. It was under no obligation to include it in its return It did not seem plausible that the assessee had admitted that the sum belonged to it. But even assuming it had done so before the Tribunal, such admissio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n that view of the matter, the direction by Tribunal to investigate the matter was unwarranted". Considering the view taken by their Lordships in the case above and on the facts of the case before us, we do not find any justification in the view taken by the authorities below when firm has disclosed the primary facts in the return There is no justification for reopening of assessment on the basis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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