9911796707
TMI Blog2008 (1) TMI 127X X X X Extracts X X X X X X X X Extracts X X X X ..... the statement – assessment cannot bee reopened on basis of statement of third person who has been expired - there is no sufficient reason for reopening the assessment, so notice is invalid - 1306 of 1989 - - - Dated:- 8-1-2008 - F. I. REBELLO and R. S. MOHITE JJ. JUDGMENT The judgment of the court was delivered by R. S. MOHITE J. 1. This petition impugns eight notices all dated Mar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ission of the petition came to be filed in June, 1989. In this reply, for the first time the reasons for seeking the reopening of assessments were set out. 3. In paragraph 2 of the reply, it appears to be the contention of the Revenue that subsequent to the finalization of the assessment of the petitioner for the assessment year 1980-81, it was found that one Premraj Hazarimal was paid interes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an order stating that no reasons had been disclosed in the notices. The court directed that the respondent should produce before the court the reasons for reopening the assessment. When this order was passed, the affidavit in reply was before this court and therefore, we can presume that the court did not find reasons given in the affidavit in reply to be sufficient for the purpose of reopening th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovided were earlier found to be insufficient by the earlier Bench. Even independently assessing the reasons as contained in the affidavit in reply filed at the stage of admission we find that the case of the Revenue is based upon the statement of Mr. J. K. Banthia who expired after retracting the statement. The documentary evidence indicates the existence of the loan and the payment of interest a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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