THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1),, GUNTUR vs. LAKSHMI CONSTRUCTIONS, , GUNTUR
In the result, appeal filed by the Revenue and the C
ITA 10/VIZ/2019[2006-07]Status: DisposedITAT Visakhapatnam03 May 2019AY 2006-07
Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blethe Acit, Circle-2(1), Vs. M/S. Lakshmi Constructions, Guntur. D.No. 5-87-22, Sri Balaji House, Lakshmipuram, Guntur. Pan No. Aabfl 6560 B (Appellant) (Respondent) C.O. No. 47/Viz/2019 (Arising Out Of Ita No. 10/Viz/2019) (Asst. Year : 2006-07) M/S. Lakshmi Constructions, Vs. The Acit, Circle-2(1), D.No. 5-87-22, Sri Balaji Guntur. House, Lakshmipuram, Guntur. Pan No. Aabfl 6560 B (Appellant) (Respondent) Assessee By : Shri G.V.N. Hari – Advocate. Department By : Smt. Suman Malik – Sr.Dr Date Of Hearing : 29/04/2019. Date Of Pronouncement : 03/05/2019. O R D E R Per V. Durga Raothis Appeal By The Revenue & The Cross Objection By The Assessee Are Directed Against The Order Of Commissioner Of Income Tax (Appeals)-1, Guntur, Dated 29/09/2018 For The Assessment Year 2006-07. 2 Ita No.10 /Viz/2019 & C.O.No. 47/Viz/2019 (M/S. Lakshmi Constrcutions)
For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Smt. Suman Malik – Sr.DR
Section 143Section 143(1)Section 143(3)Section 145(3)Section 147Section 148
reopen and reassess the income of a case beyond 4 years and after regular scrutiny assessment, it is incumbent upon the AO to specify the failure on the part of the appellant in disclosing full and true material facts necessary for the assessment. In this case reasons recorded as mentioned in the assessment order does not indicate the failure
