2016 (5) TMI 1273

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..... It is not in dispute that in respect of the Respondent Assessee for the AYs in question the initial assessment proceedings took place under Section 143(3) of the Act. Thereafter they were sought to be reopened by issuing notice under Section 147 of the Act and re-assessment orders were passed under Section 147 read with Section 143(3) of the Act. During both the aforementioned proceedings th .....

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..... R D E R 1. These appeals are taken up on the basis of an office note. The order dated 29 th April, 2016 is corrected and shall read as under: CM No. 15007/2016 (for exemption) in ITA No. 276/2016 1. Exemption allowed subject to all just exceptions. 2. The application is disposed of. ITA No. 274/2016 276/2016 3. These appeals by the Revenue are, under .....

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..... of the Act. Thereafter they were sought to be reopened by issuing notice under Section 147 of the Act and re-assessment orders were passed under Section 147 read with Section 143(3) of the Act. During both the aforementioned proceedings the question whether the gold and silver utensils were the capital assets or personal effects of the Assessee was examined. They were held not to be the .....

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