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TMI Blog2021 (12) TMI 515X X X X Extracts X X X X X X X X Extracts X X X X ..... sagreed with the view expressed by the Revenue Audit. One of the two officers who had disagreed with the view of Revenue Audit, inspite of his disagreement has reopened assessment. It is therefore obvious that he has not formed his own opinion that income has escaped assessment. Similar situation had arisen in Il and Fs Investment Managers Ltd.[ 2006 (11) TMI 181 - BOMBAY HIGH COURT ] In view o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se leading to the issue of the impugned notice and passing of the impugned order and after going through the same and examining the question of legality thereof quash, cancel and set aside the impugned notices (Exhibits I-1 and I-2 J-1 and J-2) dated 31st March, 2019 and impugned orders (Exhibits X and AA) dated 12th October, 2019 and 18th October, 2019. 2. Reasons for reopening as well as f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the Assessing Officer. According to the Assessing officer, Section 43B of the said Act provides that certain expenditure/payment which are otherwise liable for deduction under the Act shall be allowed under the Act as deduction only in the year of actual payment irrespective of year of accrual of such expenditure and since the assessee had made payment of ₹ 47.89 crore towards said liabil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, the objection raised by the audit is not tenable and audit may be requested to withdraw the same. On this ground alone petition should be allowed in terms of prayer clause (a). 4. In Indian and Eastern Newspaper Society vs. Commissioner of Income Tax, New Delhi 119 ITR 996(SC), the Apex Court held, Income Tax Officer must determine for himself what is the effect and consequence of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Revenue Audit, inspite of his disagreement has reopened assessment. It is therefore obvious that he has not formed his own opinion that income has escaped assessment. Similar situation had arisen in Il and Fs Investment Managers Ltd. vs. Income Tax Officer and Others 2009 298 ITR 32 Bom. 6. In view of the above it is not a case that petitioner has not disclosed anything to respondents ..... X X X X Extracts X X X X X X X X Extracts X X X X
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