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The Tax PublishersITA No. 7243/Del/2019
2020 TaxPub(DT) 4761 (Del-Trib)INCOME TAX ACT, 1961
Section 147, Proviso
In the absence of failure on part of assessee to disclose fully and truly all material facts necessary for assessment under section 147, reopening of assessment beyond four years was hit by proviso to section 147, especially when approval had been given in a mechanical manner under section 151.
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Reassessment - Beyond four years - No failure to disclose fully and truly all material facts -
AO issued notice under section 148 so as to reopen assessment after expiry of four years from the end of relevant assessment year and thus, passed order under section 147 making addition under section 68 on account of receipt of unexplained loans. Assessee took plea of proviso to section 147. Held: As there was no allegation in the reasons recorded for reopening that there was failure on part of assessee to disclose fully and truly all material facts necessary for assessment under section 147, therefore, reopening of assessment beyond four years was hit by proviso to section 147, especially when approval had been given in a mechanical manner under section 151 without appreciating the facts properly and application of mind by the superior authorities.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2011-12
IN THE ITAT, NEW DELHI BENCH
R.K. PANDA, A.M. & SUCHITRA KAMBLE, J.M.
RMP Holding (P) Ltd. v. ITO
I.T.A. No. 7243/Del/2019
31 July, 2020
In favour of assessee.
Appellant by: Suresh Gupta
Respondent by: M. Barnwal
R.K. Panda, A.M.
This appeal filed by the assessee is directed against the Order, dated 5-8-2019 of the Commissioner (Appeals)-7, New Delhi, relating to assessment year 2011-12.
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