THE INDIAN HOTELS COMPANY LTD,MUMBAI vs. ASST CIT CIR 2(2), MUMBAI

ITA 5653/MUM/2011Status: DisposedITAT Mumbai28 March 2025AY 1998-99Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the reassessment proceedings were initiated on an incorrect understanding of the facts, as the Assessing Officer wrongly believed no assessment had been framed. The reasons recorded lacked a categorical averment of the assessee's failure to disclose material facts.

What were the facts?

The assessee's appeal concerns reassessment proceedings initiated after the expiry of four years from the end of the assessment year. The Assessing Officer based the reopening on a report from the Enforcement Directorate, believing income had escaped assessment.

What were the issues?

Whether reassessment proceedings initiated after four years are valid when the reasons recorded do not explicitly state the assessee's failure to disclose material facts.

Which sections of the Income-tax Act were involved?

Section 147,Section 143(3),Section 148,Section 68

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

[ Per Rahul Chaudhary, Judicial Member:

1.

The present appeal preferred by the Assessee is directed against the order, dated 14/06/2011, passed by the Commissioner of Income Tax (Appeals) - 5 [hereinafter referred to as ‘the CIT(A)’] under Section 250 of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] whereby the Ld. CIT(A) had partly-allowed the appeal against the Assessment Order, dated 31/03/2006, passed under Section 143(3) read with Section 147 of the Act for the Assessment Year 1998-1999. 2. The Assessee has raised following grounds of appeal :

“1. On the facts and in the circumstances of

The order continues below.

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