9911796707
TMI Blog1998 (3) TMI 124X X X X Extracts X X X X X X X X Extracts X X X X ..... "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the reopening of the assessment proceedings under s. 147(a) of the IT Act, 1961, was legally invalid?" 2. The assessee filed return of income in July, 1974, showing income from house property at Rs. 6,785. The assessment was completed under s. 143(3) on 29th March, 1977, accepting the retur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 22,77,200. Thereafter, the assessee has challenged the reassessment order before the CIT(A). Before the CIT(A) it was submitted that all material information relevant to the construction of the house property was furnished before the AO and the rent received by the assessee was also duly disclosed. It was also brought to the notice of the CIT(A) that the construction of the house was not compl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tted facts are that the assessment has been completed on the basis of material placed by the assessee in respect of the construction of the house and also duly disclosed the rent received of the house so constructed. The material fact that the assessee along with his two wives has constructed the house, was disclosed. Details of the investment in the house have also been disclosed. Thus, it cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so subsequently obtained. Therefore, it cannot be said that the assessee has not disclosed his income fully and truly. Even otherwise, the issue is squarely covered by the decision in the case of Smt. Tarawati Debi Agarwal. In the result, we answer the question referred in favour of the assessee and against the Revenue. The application is thus disposed of. - - TaxTMI - TMITax - Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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