2017 (1) TMI 854

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..... stified on the basis of the reasons recorded at the time of issuing the impugned notice. The impugned notice must stand or fail on the reasons recorded. These reasons recorded cannot be supplemented by further reasons or by filing an affidavit and/or making oral submission. The reasons are a manifestation of the mind of the Assessing Officer and must be self explanatory and should not keep the ass .....

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..... 2016 issued under Section 148 of the Income Tax Act, 1961 (the 'Act') seeking to reopen assessment for the Assessment Year 2009-10. 4. The reasons as recorded in support of the impugned notice arrives at a reasonable belief that income chargeable to tax has escaped assessment on the basis of accounts submitted by the petitioner during assessment proceedings for the Assessment Year 2008- .....

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..... iod from 3rd January, 2008 to 31st March, 2008 being the income chargeable to tax that has escaped assessment. Besides the petitioner contended that it does not have a Permanent Establishment in India and thus no income would be chargeable to tax in India. Further, the reasons as recorded states that the figures obtained for the financial year ending 3rd January, 2009 as being the income from rela .....

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..... to have escaped assessment does not arise simplicitor on not filing of return of income but must also be coupled with the prima facie satisfaction of the Assessing Officer that the income of a person concerned is chargeable to income tax even if it exceeds the maximum amount not exigible to tax. Therefore, prima facie for Explanation 2(a) of Section 147 of the Act to be invoked, the reasons must i .....

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..... ssessee guessing. It cannot be justified on the basis of inferences or interpretation. The reasons as recorded prima facie do not seem to indicate reasonable belief that income chargeable to tax has escaped assessment. 9. In view of above, prima facie the impugned notice is without jurisdiction. Accordingly, pending hearing and disposal of this petition there shall be stay of the impugned notic .....

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