9911796707
TMI Blog2022 (3) TMI 156X X X X Extracts X X X X X X X X Extracts X X X X ..... ndents. ORDER P.C. : 1. Petitioner is impugning the notice dated 31st March, 2019 issued under Section 148 of the Income Tax Act, 1961 (the Act) for the Assessment Year 2012-13 and order dated 18th October, 2019 rejecting the objections raised by petitioner against the re-assessment proceedings. 2. Petitioner had filed return of income on 28th September, 2012 declaring total income of Rs. 5,21 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d as reasonable expenses for the purpose of section 14A and the working under Rule 8D at Rs. 98,753/- is restricted to that amount of total expenses claimed in the P & L A/c. 4. If one consider the reasons for re-opening, the entire basis of alleged escapement of income are the Record and Proceedings available with the Assessment Officer that were filed and considered by the Assessing Officer who ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... court and the Hon'ble Apex Court and many other High Courts which bars re-opening of assessment on the basis of change of opinion. 5. This is a case where proposed re-opening is after the expiry of four years from the relevant assessment year and the assessment under Section 143(3) of the Act has also been completed. Therefore, proviso to Section 147 of the Act would apply. As per proviso to Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... closed all material fact etc., would not help respondents because it is quite obvious that these expressions have been used only to overcome the restrictions in the proviso to Section 147 of the Act. 7. In our view, petition has to be allowed and the same is allowed in terms of prayer clause - (a) which reads as under : (a) this Hon'ble Court may be pleased to issue a Writ of Certiorari or a wr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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