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2012 (3) TMI 192 - HC - Income TaxIncome escaping assessment - notice u/s 148 issued after expiry of four years - assessee submitted that the assessee he had fully and truly disclosed the facts at the time of original assessment relating to claim of investment allowance and on that basis, assessment order under section 143(1) of the Act was passed - Held that:- The assessee does not discharge his duty by merely producing the books of account or other evidence - it cannot be held that there was true and full disclosure made by the assessee - perusal of the assessment order, no where suggests that the Assessing Officer had dealt with the issues on which reassessment is sought to be made while determining the taxable income of the assessee - it is to be held that the action taken by the Assessing Officer beyond 4 years shall be within limitation.
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