R P Foam Home (P) Ltd Vs ACIT (Delhi High Court)
Delhi High Court held that reopening of assessment u/s. 148 of the Income Tax Act justified as assessment of tax u/s. 143(1) cannot be stated as assessment framed by AO and hence it cannot be contested that all the material was available with AO at the time of framing assessment.
Facts- The petitioner has filed the present petition impugning a notice dated 27.03.2018 issued under Section 148 of the Income Tax Act, 1961 for reopening the petitioner’s assessment for the Assessment Year 2011-12.
Conclusion- Held that the contention that all material including explanation of the petitioner was available with the Assessing Officer at the time of framing of the assessment for the Assessment Year 2011-12 and the impugned notice is occasioned by a change in opinion, is unmerited. The assessment of tax under Section 143(1) of the Act is a self-assessment and in a strict sense cannot be stated as assessment framed by the AO.
FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT
1. The petitioner has filed the present petition impugning a notice dated 27.03.2018 (hereafter the impugned notice) issued under Section 148 of the Income Tax Act, 1961 (hereafter the Act) for reopening the petitioner’s assessment for the Assessment Year 2011-12.
