2016 (8) TMI 1010

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..... Income Tax Authority itself has mentioned in the notice under Section 148 of the Act that such information was available only in the valuation report. Giving the information in this manner shall be of no help to the appellant as the Assessing Officer was not expected to go through the said information available in the valuation report for the purpose of ascertaining the actual construction of the plot. On the facts of this case, therefore, we find that the Revenue was right in reopening the assessment
A. K. Sikri And Rohinton Fali Nariman, JJ. For the Appellant : Mr. S. Ganesh, Sr. Adv. Mr. Satyen Sethi, Adv. Mr. Arta Trana Panda, Adv. Mr. Rameshwar Prasad Goyal,Adv For the Respondent : Mr. Tushar Mehta, ASG Mr. Yashank Adhyaru, Sr. Ad .....

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..... ctly disclosed the actual assets of the said plot and hence the appellant was not entitled for deduction under Section 80(1B) (10) of the Act. It was noted that the information regarding the actual size of the plot used for the construction was only available in the valuation report and hence the case is covered under Explanation 2(c)(iv) of Section 147 of the Act. The appellant objected assumption of jurisdiction under Section 148 for the reason that the appellant had disclosed all the facts fully and truly and respondent no. 1 was fully aware of the FSI. Respondent no. 2 rejected the objections. Being aggrieved, the appellant preferred a writ petition before the High Court challenging the notice dated 15.03.2007 issued under Section 147 o .....

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..... nder Section 148 of the Act that such information was available only in the valuation report. Giving the information in this manner shall be of no help to the appellant as the Assessing Officer was not expected to go through the said information available in the valuation report for the purpose of ascertaining the actual construction of the plot. On the facts of this case, therefore, we find that the Revenue was right in reopening the assessment and the High Court has rightly dismissed the writ petition of the appellant challenging the validity of the notice under Section 148 of the Act with the following observations: "6. Considering the tests laid down by the Supreme Court in Raymond Woolen Mills Ltd. (supra) the question is whether th .....

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