2006 (11) TMI 188

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ection 147/148 - Tribunal is right in law in annulling the assessment made by the Income-tax Officer - question referred to is answered against the Revenue - 11 of 1991 - - - Dated:- 1-11-2006 - ADARSH KUMAR GOEL and RAJESH BINDAL JJ. Dr. N. L. Sharda for the Commissioner. JUDGMENT The following question of law has been referred for the opinion of this court by the Income-tax Appell .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sessment. It was held that since reasons were not available on the file, it could not be ascertained whether reopening of the assessment was on account of reconsideration of the same material or in consequence of some information in its possession. Recording of reasons is a condition precedent to invoke jurisdiction under section 147/148 of the Income-tax Act, 1961. Reliance was placed on a judgme .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... R 202 observed (headnote): "An Income-tax Officer acquires jurisdiction to reopen an assessment under section 147(a) read with section 148 of the Income-tax Act, 1961, only if on the basis of specific, reliable and relevant information coming to his possession subsequently, he has reasons, which he must record, to believe that, by reason of omission or failure on the part of the assessee to mak .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X