KOVALAM SANTHANA KRISHNAN MOHAN Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) Heard Mr. Suhrith Parthasarathy learned counsel for the petitioner and Mr. Sundareshwaran, learned Senior Senior Counsel accepting notice on behalf of the respondent. By consent, the writ petition itself is taken up for final disposal.

(2.) The petitioner is aggrieved by the impugned order passed by the respondent rejecting the petitioner's objections to a notice dated 30.03.2017 issued under section 148 of the Income Tax Act, 1961 for re-opening the assessment for the year 2010-2011. The petitioner by representation dated 03.08.2017 sought for the reasons for re-opening, which were furnished by the respondent vide reply dated 08.08.2017. The allegation was that as per the records, the petitioner had not filed his return of income for the Assessment Year 2010-2011 and on verifying the ITS details available in the AST, it is found that the petitioner sold immovable properties to the tune of Rs. 4,81,92,575/- during the financial year 2009-2010 (relevant to the assessment year 2010-2011). Apart from that, there was also an allegation that the petitioner received professional/technical services fees rendered for a company. Therefore, the respondent stated that since the petitioner has not filed return of income admitting any income from capital gains or profession, he has reason to hold that the income chargeable to tax has escaped assessment as per section 147 of the Income Tax Act.

(3.) The petitioner submitted a reply on 18.08.2017 stating that as the transactions were effected during the assessment year 2009-2010, the petitioner filed his return of income, the returns was accepted and the tax has been paid. Since, there was no income for the assessment year 2010-2011, the petitioner did not file his return.