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TMI Blog2020 (9) TMI 240X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment. Issue with regard to the validity of the reopening of the assessment needs to be addressed by the learned CIT (A) in the light of the facts placed by the assessee in it s written submissions - we set aside the matter to the file of the CIT (A) with a direction to consider all the facts and submissions made by the assessee and the evidence placed before the CIT (A) and decide the issue afresh on merits after giving opportunity to the assessee. - Decided in favour of assessee for statistical purposes. - ITA No.384/Hyd/2018 - - - Dated:- 4-9-2020 - Smt. P. Madhavi Devi, Judicial Member AND Shri D.S.Sunder Singh, Accountant Member For the Assessee : Sri V. Shiva Kumar For the Revenue : Smt. N. Swapna, DR ORDE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... missioner of Income tax (Appeals) ought to have seen that the land was transferred by the Appellant in the financial year 1995-96 as per provisions of Sec.2(47) of the Act. Therefore, the Assessing Officer ought to have seen that the transfer of the land by the Appellant had already taken place in the financial year 1995-96 relevant to the assessment year 199697 and in assessment year 2009-10 only Sale Deed was executed in compliance with understanding that took place in the assessment year 1996-97. 4. For all of the above and such other grounds as may be urged at the time of hearing it is most respectfully prayed that this Hon'ble Tribunal may be pleased to allow the appeal and direct the respondent herein to delete Long term capi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act. Taking reference to page No.9 of the Paper Book, the AR submitted that the assessee sought for reasons for reopening the assessment and in page No.10 of the paper book the AR enclosed the reasons supplied by the AO vide letter dated 28.01.2016. One of the reasons for reopening the assessment is with regard to sale of property situated at Malkajagiri SRO for which the SRO value was determined at ₹ 2,71,97,000/- against the actual consideration received at ₹ 8.00 lakhs. According to the AO, the difference resulted in short computation of capital gains income which prompted the AO to reopen the assessment. In this regard, the learned AR submitted that the assessee has furnished the entire information before the AO during the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be quashed. 4. On the other hand, the ld DR submitted that the Ld.CIT (A) has dismissed the appeal of the assessee on the ground of reopening of the assessment and upheld the reopening of assessment. Since there is no specific ground raised by the assessee, before the CIT (A), the Ld.CIT (A) rightly decided the appeal and hence there is no error in the order of the Learned CIT (A), thus, requested to uphold the order of the Ld.CIT(A) and no interference is called for. 5. We have heard both the parties and gone through the orders of the authorities below. Before the CIT (A) though there was no specific ground raised by the assessee with regard to validity of reopening of assessment, the assessee has made submissions on reopening of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lating to various issues noted in reasons recorded for reopening the assessment were there before the then Assessing Officer at the stage of original at and there was no failure on our part to disclose fully and truly all material facts necessary for completion of the assessment. Therefore, we submit that no new material which was not furnished by us at the time of original assessment with regard to the said issues has come on record after the assessment is completed and therefore reopening of assessment is only due to mere change of opinion and that too beyond the time limit as specified in the proviso to sec. 147 of the Act which is bad in law. We rely on the following cases. CIT vs. Bhaviji Lavji (79 ITR 582(SC)) CIT vs. K ..... X X X X Extracts X X X X X X X X Extracts X X X X
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