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[2007] 292 ITR 397 (RAJ.) HIGH COURT OF RAJASTHAN Commissioner of Income-tax v. Mahesh Gum & Oil Industries RAJESH BALIA AND R.P. VYAS, JJ. D.B. I T APPEAL NO. 113 OF 2005 FEBRUARY 16, 2006 Section 147 of the Income-tax Act, 1961 - Income escaping assessment - General â–  Where a perusal of reasons recorded for reopening assessment clearly showed that even escapement of assessment had been held not on any existing material but by assuming certain state of things to exist, reassessment was not justified [Assessment year 1989-90] The assessee-firm was dissolved on 4-11-1983, and in response to a notice for the assessment year 1989-90 under section 148 a return was filed at nil income. The assessee objected to assumption of jurisdiction by the Assessing Officer under section 147/148 and also asked for reasons for issuing notice under section 148. The submission of the assessee was that the assumption of jurisdiction itself was not sustainable. However, the assessment order was made against the respondent considering it to be an unregistered firm. Held that a perusal of the reasons recorded for reopening the assessment clearly went to show that even escapement of assessment had been held not on any existing material but by assuming certain state of things to exist. No information had been placed on record to satisfy that the subjective satisfaction required to exist was founded on any existing material. Moreover, it was not in dispute that the assessment of the subject-matter recorded in the reasons for reopening assessment had already been made by regular assessment order. Thus, reassessment was not justified. JUDGMENT This appeal is directed against the order of the Income-tax Appellate Tribunal, Jodhpur Bench, Jodhpur, dated September 15, 2004. The following two questions are suggested as substantial questions of law for consideration in this appeal : "I. Whether, on the facts and in the circumstances of the case, the learned Income-tax Appellate Tribunal has erred in law in holding that the reassessment proceedings were bad in law and based on the change of opinion, ignoring the fact that the proceedings under section 147 were validly initiated on the…

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