Brief of the Case
ITAT Delhi held In the case of Sh. Haripal Singh vs. ACIT that it is settled legal position that that there is no estoppels in law. If in law an item is not taxable, no amount of admission or misapprehension can make it taxable. The taxability or the authority to impose tax is independent of admission. The Department cannot rely upon any such admission or misapprehension if it is not otherwise taxable. It is always open to an assessee to take the plea that the figure, though shown in his return of total income, is not taxable in law.
Facts of the Case
The assessee is an individual and filed his return of income for the AY 2009-10 on 30.7.2009 declaring an income of Rs.45,86,530/- The case was processed u/s 143(1). Later on, the assessee revised his return of income, declaring a total income of Rs.6,73,55,350/- on 30.9.2009. The reasons for revising the return of income were stated by the assessee that, while filing the original return of income, long term capital gain, amounting to Rs.7,09,00,039/- and a part of income from other sources amounting to Rs.3,90,84,891/- were not declared. Thereafter, the case was selected for scrutiny under CASS and statutory notice u/s 143(2) dated 21.8.2010 was issued and duly served upon the assessee and and assessment was completed u/s 143(3) on 29.12.2011.
