1993 (8) TMI 24

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..... his action is without jurisdiction ?" The assessee is a private limited company whose assessment in respect of the assessment year 1974-75 was originally completed on July 20, 1976. Thereafter, on January 10, 1979, the Income-tax Officer issued notice under section 148 of the Act for reopening the assessment. Accordingly, the Income-tax Officer reopened the assessment under section 147(b) of the said Act; but did not refer to the reasons for reopening the said assessment in his order of reassessment dated January 8, 1980. The assessee went in appeal to the Commissioner of Income-tax (Appeals) wherein the assessee challenged the validity of the reopening of the assessment under section 147(b) of the Act. The Commissioner of Income-tax (Ap .....

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..... f 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) must record his reasons for doing so, and that the reasons so recorded must clearly specify the "information" which had come into his possession in consequence of which he had reason to believe that income chargeable to tax had escaped assessment. On the facts of the case, we find that the letter dated January 10, 1979, addressed by the Income-tax Officer to the assessee (which letter was subsequent to the notice in question) does not disclose the "information" which had come into possession of the Income-tax Officer. The Departmental repre .....

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..... 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 satisfied that these are findings of fact and the legal position also, do not justify interference in the present reference. In the premises aforesaid, the question raised in the present reference is answered in the affirmative, i.e., against the Revenue and in favour of the assessee. The reference stands disposed of accordingly with no order as to costs.
Case laws, Decisions, Judgements, Orde .....

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