|The Tax Publishers2021 TaxPub(DT) 0129 (Del-Trib)
INCOME TAX ACT, 1961
Section 147, Proviso
As there was no failure on part of assessee to disclose truly and fully all material facts necessary for assessment, reopening of assessment beyond four years was hit by proviso to section 147 and was, therefore, quashed.
Reassessment - Beyond four years - No failure to disclose fully and truly all materials facts -
AO reopened assessment after expiry of four years from the end of relevant assessemnt year. Reason for reopening was that a wrong claim of Rs. 19 lakhs which was made by assessee, was allowed to it. Assessee took plea of proviso to section 147.Held: During the course of original assessment proceedings, on the issue of allowability of Rs. 19 lakhs assessee had disclosed information to AO and accordingly, there was no failure on part of assessee to disclose truly and fully all material facts necessary for assessment. Accordingly, reopening was hit by proviso to section 147 and was, therefore, quashed.
FAVOUR : In assessee's favour.
A.Y. : 2006-07
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