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TMI Blog2016 (12) TMI 1283X X X X Extracts X X X X X X X X Extracts X X X X ..... (3) of the Act on 22.12.2010. The re-assessment notice refers to the proceedings for a subsequent year, i.e., AY 2012-13 as well as a decision of the Karnataka High Court in the case of CIT v. Namdhari Seeds Pvt. Ltd.: 16 taxmann.com 83 which states as follows: "M/s Technico Agri Science Ltd. is assessed to tax with Circle 25(1) New Delhi. Assessment in this case for AY 2008-09 was completed on 22.12.2010 u/s 143(3) of the Act. While completing assessment for AY 2012-13 under section 143(3), it has been held that assessee has wrongly claimed income of Rs. 5,33,26,639/- as agricultural income. Considering this finding assessment record for A.Y.2008-09 was examined and it was found that income of Rs. 10,15,72,169/- has also been claimed as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in fact furnished and, there was no concealment and furthermore that on the very same issue, i.e., nature of operation and business carried on and whether it amount to agricultural activities, the scrutiny assessment had carried out full inquiry. The learned counsel for the assessee relies upon a notice/questionnaire by the A.O. during the course of the scrutiny assessment issued on 19.11.2010 pointing to the fact that on the very same issue, pointed query was made which was supported through documentary evidence and other materials. It is therefore contended that the re-assessment notice is nothing but a change of opinion which is not permissible having regard to the narrow scope of Section 147/148 of the Act which admits all violated re-a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... old and other expenses incurred. (6) xxx ... xxx ... xxx (7) Justification with evidence in respect of claim u/s 10(1) in respect of income from field generated seed potatoes." 4. The assessee has placed on record the replies to the queries on each of the aspects made as well as the documentary evidence spanning 21 Annexures to the letter. It is quite evident that the A.Os., upon proper inquiry and investigation into these materials, were satisfied as to the nature of the petitioner's activities and it is eligible to claim exemption under Section 10 of the Act. 5. It has been repeatedly held in several decisions, both before and after the ruling of the Supreme Court in Commissioner of Income Tax v. Kelvinator 320 ITR 561(SC) that a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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