The Tax Publishers2020 TaxPub(DT) 4308 (Mum-Trib)

INCOME TAX ACT, 1961

Section 147, Proviso

Reopening of assessment beyond four years on the same set of facts amounted to mere change of opinion and in the absence of failure to disclose fully and truly all material facts, was hit by proviso to section 147, therefore, reassessment was quashed as invalid.

Reassessment - Beyond four years - No failure to disclose fully and truly all material facts -

AO reopened assessment after expiry of four years from the end of relevant assessment year and disallowed labour charges for want of TDS under section 194C. Held: All the details of labour charges were made available during regular assessment proceedings and same accepted by AO. Accordingly, reopening on the same set of facts amounted to mere change of opinion and in the absence of failure to disclose fully and truly all material facts, was hit by proviso to section 147, therefore, reassessment was quashed as invalid.

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2008-09



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