Case Law Details
Maya Devi Agrawal Vs ITO (ITAT Raipur)
ITAT Raipur held that reopening of completed assessment beyond four years without failure on the part of the assessee to fully and truly disclose all the material facts is unjustified and liable to be quashed.
Facts- The assessee had filed her return of income declaring an income of Rs.3,72,070/- [including Long-term capital gain (LTCG) of Rs.2,21,602/-]. Return of income filed by the assessee was processed as such u/s. 143(1) of the Act. Original assessment was, thereafter, framed by the A.O. vide his order passed u/s. 143(3) of the Act, wherein the income of the assessee was assessed at Rs.4,42,070/- (including LTCG of Rs. 2,21,602/-). Thereafter, the A.O. reopened the case of the assessee u/s. 147 of the Act. Notice u/s. 148 of the Act was issued to the assessee.
The A.O. thereafter framed assessment vide his order passed u/s. 143(3) r.w.s. 147 of the Act, wherein the LTCG on sale of land at Dumar Talab was reworked out by him at Rs.8,45,505/- as against LTCG of Rs.2,21,602/- that was disclosed by the assessee in her original return of income and was earlier accepted by his predecessor vide assessment framed u/s. 143(3) of the Act.
CIT(A) partly allowed the appeal. Being aggrieved, the present appeal is filed by the assessee.
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