The Tax Publishers2019 TaxPub(DT) 5130 (Guj-HC) : (2019) 266 TAXMAN 0191

INCOME TAX ACT, 1961

Section 148

As evident, assessee had disclosed the fact of sale of property and AO was aware about the same during original assessment proceedings, therefore, issuance of section 148 notice in the absence of fresh tangible material amounted to mere change of opinion which was not permissible more particularly when assessment was ought to be reopened after a period of four years from the end of relevant assessment year.

Reassessment - Notice beyond four years - No tangible material and no failure to disclose fully and truly all material facts -

AO issued notice under section 148 after expiry of four years from the end of relevant assessment year on the ground that assessee had not shown capital gain arising out of the sale of property.Held: As evident, assessee had disclosed the fact of sale of property and AO was aware about the same during original assessment proceedings, therefore, issuance of section 148 notice in the absence of fresh tangible material amounted to mere change of opinion which was not permissible more particularly when assessment was ought to be reopened after a period of four years from the end of relevant assessment year.

Relied:CIT v. Kelvinator of India Ltd. (2010) 320 ITR 561 (SC) : 2010 TaxPub(DT) 1335 (SC), Giriraj Steel v. Dy. CIT (2018) 91 Taxmann.com 342 (Guj-HC) : 2018 TaxPub(DT) 0780 (Guj-HC) and Priyanka Gems v. Asstt. CIT (2014) 46 Taxmann.com 376 (Guj-HC).

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2013-14



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