Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (6) TMI 1214 - AT - Income TaxValidity of reopening of assessment - Held that:- The interdiction provided in the proviso appended to section 147 of the Income Tax puts an embargo upon the powers of the AO to issue notice under section 148 of the Income Tax Act, in cases where, the original assessment was made under section 143(3) and four years have expired. The AO has been denuded from his powers to issue notice in such cases unless it is established that income chargeable to tax has escaped the assessment on account of failure of the assessee to disclose all the material facts fully and truly in respect of its income. The AO has nowhere alleged any failure of the assessee. The ld.CIT(A) has rightly appreciated the facts - Decided against revenue.
|