DEPUTY COMMISSIONER OF INCOME TAX, PUNE vs. MUKUND BHAVAN TRUST, PUNE

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ITA 373/PUN/2017Status: DisposedITAT Pune30 November 2021AY 2007-087 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that since the original assessment was completed under section 143(3) and the reassessment notice was issued after four years, it was invalid without any failure on the part of the assessee to disclose material facts. Therefore, the CIT(A)'s order was upheld.

What were the facts?

The assessee trust's original assessment was completed under section 143(3). Later, the AO initiated reassessment proceedings under section 148, alleging violation of section 13(1)(c)(ii) and 13(2)(b) based on information from subsequent assessment years. The CIT(A) quashed the reassessment notice as bad in law.

What were the issues?

Whether the reassessment proceedings initiated after four years from the end of the relevant assessment year, following a section 143(3) assessment, were valid without any failure of disclosure by the assessee.

Which sections of the Income-tax Act were involved?

Section 148,Section 143(3),Section 13(1)(c)(ii),Section 13(2)(b),Section 11,Section 12,Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCHES “A, PUNE

Before: SHRI R.S. SYAL & SHRI S.S. VISWANETHRA RAVI

For Appellant: Shri V.L. Jain
For Respondent: Shri J.P. Chandrakar

आदेश क� क� क� �ितिलिप क� �ितिलिप �ितिलिप अ�ेिषत �ितिलिप अ�ेिषत अ�ेिषत / Copy of the Order is forwarded to : अ�ेिषत आदेश आदेश आदेश अपीलाथ� / The Appellant; 1. ��यथ� / The Respondent; 2. आयकर आयु�(अपील) / 3. The CIT (Appeals)-10, Pune 4. The CIT (Exemptions), Pune 5. DR, ITAT, A Bench, Pune ; गाड� फाईल / Guard file. 6. // True copy // आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 30-11-2021 Sr.PS 2. Draft placed before author 01-12-2021 Sr.PS 3. Draft proposed & placed JM before the second member 4. Draft discussed/approved JM by Second Member. 5. Approved Draft comes to Sr.PS the Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order.

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