9911796707
TMI Blog2020 (10) TMI 1117X X X X Extracts X X X X X X X X Extracts X X X X ..... 2009-10. The appeal was admitted on 05.12.2018 on the following Substantial Questions of Law: "Perversity:- (i) Whether on the facts and in the circumstances of the case, the order of the Income Tax Appellate Tribunal was perverse in introducing the proceedings of the Commissioner, Kundrathur dated 27.03.2007 which was neither considered while forming the belief envisaged u/s.147 as may be seen from the reasons recorded nor even while completing the reassessment and in the appeal proceeding before CIT (Appeal) and use such material as the sole ground for upholding the jurisdiction and that too contrary to proviso to s.147 and assuming perversely the role which even the Assessing Officer cannot assume in the light of reasons recorded? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal was right in law in not cancelling the reassessment since the reopening after 4 years from the end of the Assessment Year without there being any failure on the part of the Assessee to disclose fully and truly all material facts necessary for assessment due to which any income chargeable to tax has escaped assessment? Change of Opinion:- (vi) Whether on the facts and in the circumstances of the case the Income Tax Appellate Tribunal was right in law in holding that there was no change of opinion even though the reopening of assessment was merely based on the Partition Deed which was available even at the time of scrutiny assessment? Interest u/s.234B:- (vii) Whether on the facts and in the circumstances of the case the Income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d counsel appearing for the appellant/assessee and Mr.Karthik Ranganathan, learned Senior Standing counsel for the respondent/Revenue. 3. The learned counsel for the appellant / assessee, on instructions, submitted that the appellant / assessee intends to avail the benefit of Vivad Se Vishwas Scheme ('VVS Scheme' for brevity) and in this regard, the assessee is taking steps to file the application / declaration in Form No.I. 4. It may not be necessary for this Court to decide the Substantial Questions of Law framed for consideration on account of certain subsequent developments. The Government of India enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3 of 2020) to provide for resolution of disputed tax and for matters connec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pending before the Income Tax Appellate Tribunal. The filing of the declaration is as per Section 4 of the Act and the particulars to be furnished are also mentioned in the Sub Sections of Section 4. Section 5 of the Act deals with the time and manner of the payment and Section 6 deals with Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases. Section 9 of the Act deals with cases, where the Act 3 of 2020 will not be applicable. 7. As observed, the assessee is given liberty to restore this appeal in the event the ultimate decision to be taken on the declaration to be filed by the assessee under Section 4 of the said Act is not in favour of the assessee. If such a prayer is made, the Regi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
