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2018 (12) TMI 743 - ITAT KOLKATAReopening of assessment - wrong windmill depreciation claim - assessee had wrongly included land cost in its windmill depreciation claim - Held that:- No failure on the taxpayer’s part to disclose “fully and truly” all necessary facts in its return of income. Learned Departmental Representative’s case is that the assessee had wrongly included land cost in its windmill depreciation claim and therefore, its disclosure made in assessment proceedings does not satisfy the latter lines of truly ‘ in section 147 1st proviso’ in the Act. There is no dispute first of all that the Assessing Officer’s reopening reasons did not specifically indicate the assessee’s failure in not having disclosed all the relevant facts “fully and truly” at the first instance. Omission on part of an Assessing Officer is fatal to validity of the reopening in issue. We further find as per assessee’s particulars of depreciation allowable in respect of block of assets in the relevant previous year that it had nowhere included land cost of ₹ 20,000,000/- for the purpose of the relief in issue. This clinching fact has gone unrebutted at the Revenue’s behest during the course of hearing. We therefore affirm the CIT(A)’s findings holding the impugned reopening to be not sustainable in the eyes of law. The Revenue fails in its sole legal ground. - Decided in favour of assessee.
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