9911796707
TMI Blog2017 (1) TMI 726X X X X Extracts X X X X X X X X Extracts X X X X ..... ates that there is suppression of turnover which itself is enough for the purpose of understanding the reason for reopening the assessment. The enclosure which has been annexed along with the documents clearly narrates why the assessment had to be reopened. Learned counsel for the petitioners however has a case that the enclosure that had been given was for internal purpose and was not intended to be a notice given to the petitioners indicating the reason to believe. In so far as the enclosure is enclosed along with Ext.P5 series and Ext.P7 series, necessarily, the petitioners are put to notice regarding the reason to believe by which the assessment had been reopened. Under such circumstances necessary particulars had already been given to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Ram v. Commissioner of Income Tax, Delhi (ITA No.290/2004 and connected cases), Unitech Holdings Limited v. Deputy Commissioner of Income Tax (WP(C) No. 12325/2015 & CM No.32738/2015) as well as GKN Driveshafts (India) Ltd v. Income-Tax Officer and Others [(2003) 259 ITR 19]. 4. The main contention urged is that the impugned documents do not contain reason to believe. Perusal of Ext.P5 series and Ext.P7 series in either cases would show that the Income Tax Officer proceeded on the basis that a survey under Section 133A was carried out in the business premises of the assessee on 10/12/2014 and during the survey, evidence had been collected showing suppression of actual receipts. Hence, there is reason to believe that income escaped assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri John Joseph and his wife Smt.Ancy John were submitted to the department by the assessee group themselves vide e mails dated 12.1.2015, 20.1.2015 and 5.1.2015 respectively. The abstract of the same is attached along with as Annexure-II. The turnover difference for AY2012-13 and AY 2013-14 is summarized as under: AY------------------------> 2013-14 2012-13 FY----------------------> 2012-13 2011-12 Actual turnover 50606632 68317450 Returned turnover-John Joseph 3057865 4927430 Returned turnover-Ancy John 2245412 1331005 Suppression in turnover 45303355 62059015 While examining the return of the Shri.John Joseph, it was further noticed that the assessee has made a Capital introduction of ₹ 56,79,793 during Financia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome Returned 2010-11 350000 561870 0 411870 2011-12 734400 490013 29243 519256 2012-13 405400 860895 63574 924469 2013-14 714119 765732 43629 809361 Opening Stock Sales Other income Closing stock 2010-11 2011-12 6727000 4192609 10325247 2012-13 10325247 4927430 10840187 2013-14 10840187 3057865 2482207 11865386 Sri Ancy John AY Agriculture Income Business Income 2010-11 250000 230450 2011-12 0 -363310 2012-13 0 63374 2013-14 328200 179633 Opening stock Sales Other income Purchases Closing stock 2010-11 Returns filed u/s 44AD 2011-12 0 2200955 0 1924860 548218 2012-13 548218 1331005 215860 1850770 2248988 2013-14 Returns filed u/s 44AD Considering the above fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ou during the post survey proceedings and consolidated day book details for FY2011-12, FY2012-13 and FY2013-14 based on the findings of the survey was even submitted to the department. Further proceedings under Section 143(3) for AY2012-13 which was pending in your husband Shri John Joseph's case was finished on the basis of the said details. Thus it clear that the necessary copies regarding the findings of the survey are already available with your group." the enclosure which has been annexed along with the documents clearly narrates why the assessment had to be reopened. Learned counsel for the petitioners however has a case that the enclosure that had been given was for internal purpose and was not intended to be a notice given to ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
