ASSISTANT COMMISSIONER OF INCOME Vs. JAGDISHBHAI NANUBHAI TEKRAWALA

JUDGEMENT

(1.) THE Revenue has filed this Tax Appeal under Section 260a of the Income Tax Act for A. Y. 1991-92 proposing to formulate the following substantial question of law for consideration and determination of this Court.

(2.) BEING aggrieved by the said order of the Assessing Officer the assessee filed an appeal before the CIT (A), Surat challenging the reassessment order on legality as well as on merit. The CIT (A) has confirmed the order passed by the CIT (A ). Being further aggrieved by the said order the assessee preferred appeal before the Tribunal and the Tribunal reversed the order of the Assessing Officer as well as CIT (A) and quashed the reassessment order on the ground that reopening of assessment was not legal and it was based on change of opinion.

(3.) IT is this order, which is under challenge in the present appeal. Mr. B. B. Naik, learned Standing Counsel appearing for the Revenue has submitted that there is no whisper in the original assessment order that the details relating to the interest were placed on record. He has further submitted that even furnishing of details is not enough. It is not reflected from the order that the Assessing Officer had applied his mind and hence the provision of Section 147 of the Act is attracted. Any expenditure which is wrongly allowed in the regular assessment is subjected to reopening. He has, therefore, submitted that the substantial question of law arises out of the order of the Tribunal.