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2012 (12) TMI 119 - AT - Income TaxReopening of assessment and issuance of notice after the expiry of period of four years from the end of the relevant assessment year - Held that:- There is no failure on the part of the assessee to make a return u/s 139 or to disclose fully and truly all material facts necessary for assessment - assessment was completed u/s 143(3) of the Act and as per sub-section (iii) of section 148 there was no failure on the part of the assessee in computing the book profit for the purposes of section 115JB of the Income-tax Act, 1961 - there is no whisper that there was failure on the part of the assessee to disclose fully and truly all material facts for the calculation of book profit u/s 115JB. In view of these facts, reopening of assessment after the expiry of four years is not justified as notice u/s 148 was issued on 9.4.2007, consequently, the assumption of jurisdiction u/s 147/148 is also unjustified – In favor of assessee
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