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2002 (11) TMI 31 - BOMBAY HIGH COURTValidity of the reopening of the assessment proceedings under section 147(a) read with section 148 - Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the proceedings under section 147(a) were not validly initiated? - we are of the opinion that the Tribunal was justified in holding that all the primary facts were disclosed by the assessee and that there was no failure on the part of the assessee to disclose fully and truly all the material facts. We, accordingly, hold that the reopening of the assessment could not be initiated under section 148 read with section 147(a) of the Income-tax Act on the ground that the assessee has failed to disclose material facts. Accordingly, we answer the question in the affirmative and in favour of the assessee.
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