LAWS(GJH)-2008-7-128

NIKHIL K KOTAK Vs. MAHESH KUMAR

Decided On July 02, 2008
NIKHIL K.KOTAK Appellant
V/S
MAHESH KUMAR Respondents

JUDGEMENT

(1.) THIS petition challenges notice issued under Section 148 of the Income-tax Act, 1961 (the Act) on 22. 03. 1999 by the respondent assessing officer for Assessment Year 1992-93.

(2.) THE petitioner, an individual, filed return of income for Assessment Year 1992-93 declaring total income of Rs. 23,84,550/ -. The Assessing Officer issued notice under Section 143 (2) of the Act. On 20. 03. 1995 the petitioner assessee filed a detailed reply whereunder in Paragraph No. 4 it was stated "the details of the amount invested in the new house being Rs. 11,36,477 in each case were duly enclosed alongwith the return of income. . . . ". The assessment order was framed on 23. 03. 1995 under Section 143 (3) of the Act after referring to the working of long term gains in Paragraph No. 3 of the assessment order.

(3.) THE impugned notice dated 22. 03. 1999 has been assailed by the learned advocate for the petitioner on the ground that the said notice has been issued beyond a period of four years from the end of the relevant assessment year and hence, as per provisions of Section 147 of the Act, more particularly the Proviso thereunder, the onus is on the respondent authority to show that there is failure on part of the petitioner-assessee as stipulated by the provisions of the Proviso to Section 147 of the Act. It was submitted that in so far as the first two conditions are concerned viz. filing of return and responding to the statutory notice, it is not even the case of the revenue that either of the said two conditions are violated. In so far as the third condition relating to omission to disclose fully and truly all material facts relevant for the assessment of the assessment year in question it was submitted that even in the reasons recorded, no such statement is made by the respondent authority. It was, therefore, urged that the petition is required to be allowed after quashing and setting aside the impugned notice.