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TMI Blog2022 (6) TMI 456X X X X Extracts X X X X X X X X Extracts X X X X ..... of initiation of the proceedings for reassessment and as to whether the reassessment proceedings were barred by limitation - Tribunal examined as to whether the assessee was justified in contending that the reassessment proceeding was a case of change of opinion. We find from the order passed by the learned Tribunal all the decisions on the point have been noted and elaborate reasons have been given affirming the factual finding recorded by the CIT(A). Wherever the finding was rendered by the CIT (A) in favour of the assessee was also examined and ultimately the reassessment proceedings were held to be valid on facts. Taking note of the elaborate reasons given by the Tribunal, we find no question of law, much less substantial questions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment proceedings for assessment year 1999-2000? II) Whether on the facts and in the circumstances of the case the impugned order of the Tribunal dated 12th September, 2014 was perverse in so far as it ignored the most relevant condition that initiation of reassessment proceeding was a clear case of change of opinion when the materials contained in the recorded reasons where already available with the department much before and also at the time of making the original assessment under section 143(3)? III) Whether, on the facts and in the circumstances of the case, the order of the Tribunal was clearly erroneous in law and perverse in deciding the case on the basis of a judicial decision in the case of Re: Income Tax Officer -Vs- Purush ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he appeals were dismissed. Challenging the same the assessees preferred appeals before the Tribunal. The Tribunal after considering the factual position noted that before the CIT(A) the assessee had raised the three issues namely, i) the issue relating to the validity of the reopening proceedings, ii) the initiation of reassessment proceedings being barred by limitation, and iii) with regard to service of notice under Section 143(2) of the Act. The learned Tribunal noted that the present litigation was a second round of litigation and the issue pertaining to service of notice under Section 143(2) of the Act was decided against the assessee in the first round of litigation and the said order had attained finality as the assessee had not p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is that there are no reasons to believe and the material available was already before the AO. The CIT(A), we noted, has not given any finding in respect of the issue taken by the Assessee that initiation of the proceedings are barred by limitation in view of proviso to Sec. 147 but the CIT(A) decided in favour of the Assessee on the issue that the same information was available with the AO even during the original assessment by observing as under: 4.4 The facts of the present case clearly show that an Assessing Officer who has a proper understanding of Income Tax Act cannot hold a belief that the loan or capital credited in the books of account during the year under appeal is not genuine on the basis of information about some unspec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e held to be valid on facts. Taking note of the elaborate reasons given by the Tribunal, we find no question of law, much less substantial questions of law, arising for consideration in these appeals. Accordingly, the appeals are dismissed. With the dismissal of the appeals, all connected applications also stand dismissed. Since the revenue has not been represented by the Counsel in these appeals, we direct Mr. Vipul Kundalia learned Senior Standing Counsel and Mr. Prithu Dudheria, learned Junior Standing Counsel to accept notice on behalf of the respondent and the Ministry of Law and Justice shall regularise their appearance. Since the appeal being ITAT 27 of 2015 appearing in the supplementary list today is filed challenging the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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