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The Tax PublishersW.P. No. 15201 of 2019
2020 TaxPub(DT) 5480 (AP-HC) : (2020) 428 ITR 0117INCOME TAX ACT, 1961
Section 147, Proviso Section 148
Assessee in the statements filed along with orginal return disclosed fully and truly all the material facts necessary for assessment and not any fresh tangible material was brought on record by AO. Accordingly, proposed reopening beyond four years was hit by proviso to section 147 and was, therefore, quashed as invalid.
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Reassessment - Notice beyond four years - No failure to disclose fully and truly all material facts -
Assessee by way of writ petition challenged notice under section 148 issued by AO after expiry of four years from the end of relevant assessment year so as to make addition under section 56(2)(viia). Assessee took plea of proviso to section 147. Held: Assessee in the statements filed along with orginal return disclosed fully and truly all the material facts necessary for assessment and not any fresh tangible material was brought on record by AO. Accordingly, proposed reopening beyond four years was hit by proviso to section 147 and since proceeding initiated by AO was found to be illegal there was no justification to direct assessee to avail of alternative remedy of appeal. Accordingly, section 148 notice was set aside.
Relied:CIT v. Corporation Bank Limited (2002) 254 ITR 791 (SC) ; (2002) 174 CTR (SC) 577 : 2002 TaxPub(DT) 52 (SC) and Jeans Knit (P) Ltd. v. Dy. CIT (2017) 390 ITR 10 (SC) ; (2017) 77 Taxmann.com 176 (SC) : 2016 TaxPub(DT) 5149 (SC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2012-13
IN THE ANDHRA PRADESH HIGH COURT
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