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| The Tax Publishers2019 TaxPub(DT) 0859 (Del-Trib) INCOME TAX ACT, 1961
Section 147, Proviso
As apparent from reasons recorded for reopening of assessment, there was no allegation by AO of any failure on the part of the assessee to disclose fully and truly all material facts necessary for completion of assessment, therefore, reopening of assessment beyond four years on the basis of mere audit objection was not valid.
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Reassessment - Beyond four years - Reason to believe - No failure to disclose fully and truly all material facts
AO, on the basis of audit objection, reopened assessment after expiry of four years from the end of relevant assessment year. Assessee challenged this.Held: As apparent from reasons recorded for the reopening of assessment there was no allegation by AO of any failure on the part of the assessee to disclose fully and truly all material facts necessary for completion of the assessment, therefore, reopening of assessment beyond four years on the basis of mere audit objection was not valid.
Relied on:Hindustan Lever Ltd. v. R.B. Wadkar (2004) 268 ITR 332 (Bom) : 2004 TaxPub(DT) 1424 (Bom-HC)
REFERRED : Pr. CIT v. Samcor Glass Ltd. & Ors., vide ITA Nos. 768 and 769 of 2015, dt. 12-10-2015 : 2015 TaxPub(DT) 4983 (Del-HC), and Eastern Newspaper Society v. CIT (1979) 119 ITR 996 (SC) : 1979 TaxPub(DT) 1081 (SC)
FAVOUR : In assessee's favour.
A.Y. : 2006-07
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