1993 (8) TMI 24

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..... ome-tax Act, 1961, raises the following question for our opinion: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal has correctly found that the proceedings for reassessment under section 147(b) of the Income-tax Act, 1961, initiated by the Income-tax Officer suffered from infirmities and hence his action is without jurisdiction ?" The assessee is a .....

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..... e order sheet, and this being a fundamental defect, the reassessment framed could not stand. This order of the Commissioner of Income-tax (Appeals) was challenged both by the Revenue as well as the assessee. In the appeal by the Revenue, it was contended that the reasons for reopening may not have been recorded by the Income-tax Officer; but in the facts of the case the Commissioner of Income-ta .....

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..... ome-tax Officer has failed to record reasons for reopening the assessment. The contention of the assessee was that the reopening of the assessment by the Income-tax Officer was not on the basis of any new information which had come into his possession; but was merely a change of opinion. In this context, it is well-settled that the Income-tax Officer before taking any action under section 148(2) .....

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..... lready been reported on the date when the regular assessment was made by the Income-tax Officer. There is nothing on record, let alone any assertion or statement on the part of the Income-tax Officer, that the decision of this court was not known to him or was not available to him when he made the regular assessment. Thus, the Tribunal was correct in observing that it was merely a case of change o .....

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..... he judgment of the Tribunal, we can only conclude that it has recorded findings of fact to the effect that the Income-tax Officer has failed on both the counts referred to hereinabove, viz., as regards existence of the "information", and that the said "information"gives him reason to believe that income chargeable to tax has escaped assessment. On the facts and circumstances of the case, we are .....

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