Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (10) TMI 415 - AT - Income TaxRe-opening of assessment u/s 147 after the period of 4 years – Held that:- Nothing new which has come to the notice of the Assessing officer after the original assessment u/s 143(3) - The accounts had been furnished by the petitioner when called upon - Thereafter, the assessment was completed under section 143(3) of the Income-tax Act - The proviso to section 147 of the Income-tax Act requires a failure on the part of the Assessee to make a proper return - In the present case, no such case is made out on the record - Reopening is based on a mere relook of the same set of facts and documents which were already available before the AO at the time of original assessment and it was merely a change of opinion - The Assessing officer also has not pointed out what was the failure on the part of the Assessee to disclose fully and truly the particulars required for making the assessment - It is a well settled principle that reopening after 4 years from end of the relevant Assessment year, when the Assessment under sec 143(3) has been completed and the Assessee had furnished full facts, is not permissible under proviso to sec 147(1) – Reliance has been placed upon the judgment in case of CIT Vs M/s Kelvinator of India Limited [2010 (1) TMI 11 - SUPREME COURT OF INDIA] - Reopening is without jurisdiction and hence invalid – Decided in favor of Assessee.
|