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TMI Blog2015 (3) TMI 985X X X X Extracts X X X X X X X X Extracts X X X X ..... wal Das [1976 (3) TMI 1 - SUPREME Court] and CIT Vs. Kelvinator India Ltd. [2010 (1) TMI 11 - SUPREME COURT OF INDIA ]). The material here is that the respondent assessee has received a loan from three private limited companies but that by itself does not make it deemed dividend leading to reason to believe that income chargeable to tax has escaped assessment. Moreover, we also notice that the Assessing Officer in issuing the notice dated 7 March 2000 has acted at the directions of the CIT(A). This seems to be an admitted position. This is more than evident from Question 1 as formulated by the revenue hereinabove which states that the assessing officer was required to carryout the reassessment in view of the Section 150 of the Act i.e. in p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al allows the respondent/assessee's appeal in respect of Assessment Year 1996-97. 2. The appellant/revenue has raised the following question of law for our consideration: (a) Whether on the facts and in the circumstances of the case and law, the Tribunal was justified in quashing the proceedings u/s 147 of the Act, ignoring the fact that the reassessment was made by the Assessing Officer under Section 150 of the Act, where a reassessment is required to be made in pursuance of a direction by the CIT(A)? (b) Whether the Tribunal was justified in quashing the proceedings u/s 147 of the Act without considering that the return had been merely processed u/s 143(1)(a) of the Act and, therefore, the initiation of proceedings u/s 147 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner of Income Tax (Appeals) (the 'CIT(A)') quashed the assessment order dated 28 March 2002 on the ground that the reopening of assessment was without jurisdiction. The revenue accepted the same. 5. Thereafter on 10 February 2003 a fresh notice under Section 148 of the Act was issued by the Assessing Officer seeking to reopen the assessment for the Assessment Year 1996-97. The reasons recorded as supplied to the respondentassessee in support of the notice dated 10 February 2003 reads as under: The reasons for reopening the assessment for A.Y. 1996-97 in the case of M/s Tejaskiran Pharmachem Inds. (P) Ltd. On the basis of the information gathered on record, it is seen that the assessee company has received loans from follow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the reason to believe that any income chargeable to tax has escaped assessment and/or there was failure on the part of the respondent to disclose truly and fully all material facts necessary for assessment. Moreover, the respondent also urged that the entire proceedings seeking reopen the assessment was done at the behest and/or directions of CIT(A). In support thereof, reliance was placed upon the letter dated 13 January 2003 written by the Assessing Officer to the Commissioner of Income Tax while seeking sanction to reopen the assessment proceedings for the Assessment Year 1996-97 on the basis of the directions by the CIT(A). 8. By the impugned order, the Tribunal allowed the respondent/assessee's appeal. This on the basis that th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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