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2010 (2) TMI 852 - AT - Income TaxReopening of assessment - Assessing Officer had called for the information including the share capital introduced by the assessee. The assessee has given reply, the entire information was available with the Assessing Officer when original assessment was made. The Assessing Officer on receipt of information from Investigation Wing had recorded reasons for reopening of assessment - Held that:- Assessing Officer failed to record reasons that there was failure on the part of the assessee to disclose fully and truly all necessary facts for completion of his assessment. The reasons recorded are vague in nature. Therefore, reopening of assessment is bad in law in view of decision of Hon'ble Delhi High Court in the case of Haryana Acrylic Manufacturing Co. (P) Ltd. (2008 - TMI - 31355 - DELHI HIGH COURT), there is no whisper or allegation that there has been failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment. assessment made by the Assessing Officer is annulled, appeal filed by the assessee is allowed.
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