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| The Tax Publishers2020 TaxPub(DT) 2085 (Chen-Trib) INCOME TAX ACT, 1961
Section 147
Since there was not even a whisper in assessment order that assessee failed to disclose entire details required for completion of assessment, therefore, assessment was barred by limitation under proviso to section 147 as notice was issued beyond statutory period of four years.
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Reassessment - True and full disclosure - Notice for reassessment issued after expiry of four years -
Assessee challenged reopening of assessment under section 147 contending that notice was issued beyond statutory period of four years. Held: There was no necessity for raising issue of limitation, and Tribunal is expected to record a finding whether assessment was reopened within period of limitation. In instant case, assessee took a specific ground before Tribunal that assessment was reopened under section 147 beyond four years. As rightly submitted by assessee, there was not even a whisper in assessment order that assessee failed to disclose the entire details required for completion of the assessment. Therefore, assessment was barred by limitation under proviso to section 147.
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2010-11 to 2014-15
INCOME TAX ACT, 1961
Section 11
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