General Motors India (P.) Ltd. v. Dy. CIT

INCOME TAX ACT, 1961

--Reassessment--Full and true disclosureNotice under section 148 after four years--Assessee filed its return under section 139 at loss. AO processed the said return under section 143(1). Thereafter, notice under section 143(2) was issued and consequently, AO passed assessment order under section 143(3). Subsequently, AO issued notice under section 148 on 27-4-2011 for assessment year in question. Assessee contended that reopening of assessment beyond a period of four year could not be made in the case where it had neither failed in filing return under section 139 nor in disclosing trul and fully all material facts necessary for assessment. Held: It was noticed hat there was nothing in the reasons recorded by AO for reopening the assessment which might indicate that there was any failre on the part of assessee to disclose fully and truly all material facts neessary for its assessment, therefore, requirement of proviso of section 147 were not satisfied. Hence, notie under section 148 was not sustainable.