SARASWATI MUKUND EDUCATION SOCIETY ,MUMBAI vs. INCOME TAX OFFICER EXEMPTION, THANE, MUMBAI

ITA 3316/MUM/2024Status: DisposedITAT Mumbai10 February 2025AY 2014-15Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that reassessment proceedings initiated after 4 years are invalid if there's no failure on the part of the assessee to disclose material facts. Since the AO had already inquired into the car hiring charges during the original assessment, the reassessment was based on a change of opinion and thus bad in law.

What were the facts?

The assessee's reassessment proceedings for AY 2014-2015 were initiated after 4 years. The Assessing Officer made additions based on car hiring charges and exemption under Section 11. The CIT(A) partly allowed the appeal, upholding the validity of reassessment but reducing some additions.

What were the issues?

Validity of reassessment proceedings initiated beyond 4 years without failure to disclose material facts by the assessee. Whether reassessment was based on change of opinion.

Which sections of the Income-tax Act were involved?

Section 147,Section 144B,Section 11,Section 13(1)(c),Section 143(3),Section 149

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, “K(SMC

[ Per Rahul Chaudhary, Judicial Member:

1.

The present appeal preferred by the Assessee is directed against the order, dated 29/04/2024, passed by the National Faceless Appeal Centre (NFAC), Delhi [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 21/03/2022, passed under Section 147 read with Section 144B of the Act for the Assessment Year 2014-2015. 2. The Assessee has raised following groun

The order continues below.

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