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TMI Blog2018 (4) TMI 341X X X X Extracts X X X X X X X X Extracts X X X X ..... ounted to formulation of a fresh opinion based upon the same material because the assessee could not be said to have withheld any material information in the returns. Furthermore, on the other issue, i.e. merits, the Court is of the opinion that concurrent findings having been rendered, this Court refrains from interference with these orders. - ITA 305/2018 - - - Dated:- 16-3-2018 - MR. S. RAVI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the amount in dispute. The ground on which the AO brought to tax the amounts were that the assessee had invested ₹ 30 lakhs out of the capital gains in a bank which was not a notified bank and that it had not filed returns on the due date and the return of income filed on 30.03.2007 also did not accompany the proof of deposit of unutilized capital gains, and, on top of it, the assessee c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claim made in the returns. The ground on which the reassessment was conducted appears to be the Revenue s audit objections. In this regard, the CIT(A) and the Tribunal, in our opinion, followed the settled law in holding that it amounted to formulation of a fresh opinion based upon the same material because the assessee could not be said to have withheld any material information in the returns. F ..... X X X X Extracts X X X X X X X X Extracts X X X X
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