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TMI Blog2010 (12) TMI 108X X X X Extracts X X X X X X X X Extracts X X X X ..... ee the owner of the valuables in the financial year merely because the declaration stated that acquisition of valuables was much earlier. Such declaration by itself was not enough to rebut the statutory presumption under section 69A unless the assessee substantiated the same. - - - - - Dated:- 14-12-2010 - ADARSH KUMAR GOEL, AJAY KUMAR MITTAL, JJ JUDGMENT Adarsh Kumar Goel J.- This order will dispose of I. T. A. Nos. 129, 155, 600, 640, 743, 766 of 2008 and 91, 83, 261 and 379 of 2009 as all the cases involve common question raised on behalf of the Revenue to the following effect : "Whether on the facts and in law, the hon'ble Income-tax Appellate Tribunal was justified in treating the initiation of proceedings under section 147/148 unjustified and untenable and issuance of notice under section 148 to be invalid for the assessment year 1998-99 in which the assessee was found to be owner of gold and diamond jewellery as envisaged by section 69A of the Income-tax Act, 1961?" 2. In I. T. A. No. 155 of 2008, the assessee is an individual and filed declaration on December 31, 1997, before the Commissioner under the Voluntary Disclosure of IncomeScheme, 1997 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of proceedings under section 147/148 are unjustified and untenable. As a consequence, the subsequent assessment framed is liable to be quashed. We hold so. Since we have held the issuance of notice under section 148 to be invalid, the other grounds raised by the assessee are rendered academic and are not being adjudicated by us." 3. In other cases, factual position is the same except in I. T. A. No. 640 of 2008 wherein the Commissioner of Income-tax (Appeals) deleted the addition. It examined the alternative issue of justification for addition on the merits holding that assets in question were acquired in the financial year 1980-81 and not in the assessment year 1998-99.This finding was recorded on the basis of purchase bills relating to the ornaments in question. The Tribunal did not go into the merits but upheld the deletion on the jurisdictional ground. 4. We have heard learned counsel for the parties and perused the record. 5. Learned counsel for the Revenue submitted that under section 69A of the Act, any unexplained money or jewellery not recorded in books of account of the assessee can be added to the declared income of the year wherein the same was found u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e article may be deemed to be the income of the assessee for such financial year. 148. Issue of notice where income has escaped assessment. (1)Before making the assessment, reassessment or recomputation under section 147, the Assessing Officer shall serve on the assessee a notice requiring him to furnish within such period, as may be specified in the notice, a return of his income or the income of any other person in respect of which he is assessable under this Act during the previous year corresponding to the relevant assessment year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed; and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139 : Provided that in a case- (a) where a return has been furnished during the period commencing on the 1st day of October, 1991, and ending on the 30th day of September, 2005, in response to a notice served under this section, and (b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evidence against declarant. Notwithstanding anything contained in any other law for the time being in force, nothing contained in any declaration made under subsection (1) of section 64 shall be admissible in evidence against the declarant for the purpose of any proceeding relating to imposition of penalty or for the purposes of prosecution under the Income-tax Act or the Wealth-tax Act or the Foreign Exchange Regulation Act, 1973 (46 of 1973) or the Companies Act, 1956 (1 of 1956). 72. Secrecy of declaration.-(1) All particulars contained in a declaration made under sub-section (1) of section 64 shall be treated as confidential and notwithstanding anything contained in any law for the time being in force, no court or any other authority shall be entitled to require any public servant or the declarant to produce before it any such declaration or any part thereof or to give any evidence before it in respect thereof. (2) No public servant shall disclose any particulars contained in any such declaration except to any officer employed in the execution of the Income-tax Act or the Wealth-tax Act or to any officer appointed by the Comptroller and Auditor General ofIndiaor the Bo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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