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| The Tax Publishers2019 TaxPub(DT) 6765 (Ind-Trib) INCOME TAX ACT, 1961
Section 147, Proviso
Reopening of assessment was purely based on report of DDIT (Inv.) and there was no allegation that any income chargeable to tax had escaped assessment by reason of failure on the part of assessee to disclose fully and truly all material facts, accordinlgy, reopening after a lapse of more than four years from the end of relevant assessment year could not be held as valid in view of proviso to section 147.
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Reassessment - Beyond four years - No failure to disclose fully and truly all material facts - Reopening only onre[prt pf DDIT (Inv.)
AO reopened assessment after expiry of four years from the end of relevant assessment year on the ground that on enquiry by DDIT (Inv.), it was revealed that entries regarding purchase of goods and its payment to farmers recorded in the books of account were not found satisfactory.Held: Reopening of assessment was purely based on report of DDIT (Inv.) and there was no allegation that any income chargeable to tax had escaped assessment by reason of failure on the part assessee to disclose fully and truly all material facts, accordingly, reopening after a lapse of more than four years from the end of relevant assessment year could not be held as valid in view of proviso to section 147.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2010-11
IN THE ITAT, INDORE BENCH
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