9911796707
TMI Blog2009 (10) TMI 12X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment notices were issued and when admittedly there is no failure on the part of the assessee, who disclosed fully and truly all the material facts for assessment, it can only be construed as change of opinion and that it will not come under the category of escapement of assessment – revenue appeal dismissed. - 913 of 2009 - - - Dated:- 6-10-2009 - F.M. IBRAHIM KALIFULLA and Mrs. R. BANUMAT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 143(3) of the Act. At that point of time, the sale of house property by the assessee for a consideration of Rs.18,00,000/- was very much known to the assessing Authority. The assessee admitted the capital gain of Rs.6,07,035/-. 3. The assessment was concluded under Section 143(3) of the Act and was completed on 27.2.1997, which determined the capital gain of Rs.1,00,000/- as against "n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income-tax (Appeals), in paragraph 4.4, the Commissioner of Income Tax(Appeals) noted that the claim of the assessee for deduction under Section 54(1) of the Act to the extent of Rs.12,50,000/- was considered by the assessing Authority while passing orders under Section 143(3) of the Act. Under the circumstances, the present attempt of the assessing Authority in reopening the case ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
