Case Law Details
CIT Vs. Swarna Andhra Ijmii Integrated Township Development (P) Ltd. (Andhra Pradesh High Court At Hyderabad)
Explanation 3 will be applicable in case where live issue, which was subsisting at the time of original assessment and if such issue has escaped the determination of the assessing officer, can be a ground for reopening. Any new issue that has cropped up subsequently on new set of facts, the aforesaid Explanation has no application. We think that the Explanation 3 has not really diluted cardinal object of section 147 of the Income Tax Act for reopening. The Explanation 3 has been given a retrospective effect with an idea there are so many assessment orders, which were passed earlier without deciding the issue subsisting at the time of original assessment. This Explanation has held to be reopened in those cases.
FULL TEXT OF THE HIGH COURT JUDGMENT / ORDER IS AS FOLLOWS:-
This appeal is sought to be preferred and admitted against the judgment and order of the learned Tribunal dated 21-6-2013 in relation to the assessment year 2005-06 on the following suggested question of law :–
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