9911796707
TMI Blog2005 (1) TMI 310X X X X Extracts X X X X X X X X Extracts X X X X ..... e, but she failed to pay tax on the income declared. Therefore, on the basis of assessee's declaration dt. 31st Dec., 1997, the learned AO found following unaccounted assets as owned by the assessee: Sl. No. Description of asset Value of asset (Rs.) 1. Gold and Diamond jewellery 12,78,675 2. Silvery articles and utensils 42,151 3. Cash withheld with M/s Sai Corporation, i.e., debt due 25,00,000 38,20,826 3. Since the assessee failed to pay tax on this voluntary disclosure of income, the AO assumed jurisdiction within the meaning of cl. (a) of Expln. 2 to s. 147 on the ground that income has escaped from assessment. Accordingly, he issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s never put her signature on that declaration. She further contended that her husband forged the signature of agriculturists and grabbed their land. He was arrested in PASA and remained in jail for six months. She enclosed the copy of arrest order along with her affidavit filed before the CIT(A). She has further disclosed in the affidavit that he has changed the order of Tribunal, Ahmedabad, by scoring out of some lines and overwriting it and for this forgery, a case was registered which was handed over to the CBI. His first wife, Smt. Ramadevi, filed a regular Suit No. 430 of 2000 on 8th day of his death for declaration that the assessee is not legally wedded wife of Hanskamal. She has challenged the decree of Court dt. 15th Nov., 1989 obt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd whose copy is available at pp. 39 to 43 of the paper book. He took us through the contents of the affidavit and apprised us the circumstances responsible for the so-called VDIS declaration. Thereafter, Shri Rasesh Shah, learned counsel for the assessee, took us through the statement of Voluntary Disclosure of Income filed along with alleged VDIS declaration and available at p. 4 of the paper book. He contended that in this statement, no income relatable to asst. yr. 1998-99 was ever disclosed by the assessee. He, further took us through s. 147 of the IT Act and contended that expression "has reason to believe" employed in this section contemplates that before reopening of any assessment order, the AO should be satisfied with the assistan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... computation of income filed along with the alleged VDIS. The same reads as under : Kamini H. Grover Statement of Voluntarily Disclosed Income Amount of income declared (in figures and words) (Rs.) Assessment year(s) to which the income relates If the income is represented by cash (including bank deposits), jewellery, buillion, investment in shares, debts due from other persons, commodities or any other assets. Remarks Kamini H. Grover Statement of Voluntarily Disclosed Income Amount of income declared (in figures and words) (Rs.) Assessment year(s) to which the income relates If the income is represented by cash (including bank deposits), jewellery, buillion, investment in shares, debts due ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to how the learned AO prima facie believed that income has escaped assessment. Apart from other interdiction provided in the s. 148 to 153 for reopening of the assessment, we are satisfied that the AO was not having sufficient information in his possession which authorized him to believe that reasons are existing for reopening the assessment of asst. yr. 1998-99. Apart from this lapse, the assessee has demonstrated by filing her acknowledgement form available at pp. 1 to 6 of the paper book indicating the fact that the returns were filed at Ahmedabad, then as to how the learned AO assumed jurisdiction at Surat is also not discernible from the record. Therefore, in our opinion, the AO ought not to have reopened this assessment and we declare ..... X X X X Extracts X X X X X X X X Extracts X X X X
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