9911796707
TMI Blog2008 (2) TMI 342X X X X Extracts X X X X X X X X Extracts X X X X ..... etition challenges Notice dated 31.03.1994 (Annexure 'A') issued under section 148 of the Income Tax Act, 1961 ("the Act"). 2. The petitioner is an association of persons, carrying on business as builder and developer. For Assessment Year 1983-84 return of income came to be filed originally on 18.07.1984 showing total income at Nil. This was revised on 18.02.1986 declaring total income at Nil. The Assessment Order came to be framed on 31.03.1986 under section 143(3) of the Act on a total income of Rs.1,37,930. 3. As the Notice issued under section 148 of the Act is beyond the period of four years from the end of the Assessment Year upon Notice being issued, the respondent has placed on record copy of reasons recorded on 31.03.1994 w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3) of the Act has specifically considered this aspect of the matter as could be seen from paragraph No.7 of the said Assessment Order, and therefore, the reasons for reopening are not germane and did not reflect that there is any omission or failure on part of the petitioner-assessee. In support of the submissions made reliance has been placed on the following decisions : (1) Calcutta Discount Co. Ltd. Vs. Income Tax Officer - (1961) 41 ITR 191 (SC); (2) Income Tax Officer Vs. Lakhmani Mewal Das - (1976) 103 ITR 437 (SC); (3) Parashuram Pottery Works Co. Ltd. Vs. Income Tax Officer- (1977) 106 ITR 1 (SC); (4) Krishna Metal Industries Vs. H.M. Algotar - (1997) 225 ITR 853 (Guj); 5. On behalf of the respondent-r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ened beyond a period of four years from the end of the Assessment Year in question revenue has to prima facie establish that income has escaped assessment, and such escapement of income is as a result of omission or failure on part of the assessee to fully and truly disclose all material particulars necessary for assessing such income. If the reasons recorded are examined it becomes clear that the basis is the certificate of tax deduction at source. As already noticed hereinbefore, column No. 4 of the prescribed form reads "amount credited or paid in pursuance of the contract". However, in the reasons recorded the respondent has stated that as per T.D.S. certificate the work done is shown at Rs.20,51,903/- while in the return of income the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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