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2011 (3) TMI 1497 - HC - Income TaxRe-opening of assessment u/s 148 of the Act – Held that:- Notice under section 148 of the Act has been issued on March 30, 2000, in relation to the assessment year 1989-90 – it has been issued after the expiry of a period of four years from the end of the relevant assessment year - in the light of the proviso to section 147 of the Act, in case where assessment has been framed under section 143(3) of the Act, no action can be taken under section 147, unless income has escaped assessment by reason of failure on the part of the assessee to disclose fully and truly all material facts, necessary for its assessment for the assessment year. There is not even a whisper to the effect that income has escaped assessment on account of any failure on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment - the requirements of the proviso to section 147 of the Act are not satisfied - in the absence of any satisfaction having been recorded by the Assessing Officer that income has escaped assessment by reason of failure on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment for the assessment year under consideration, the assumption of jurisdiction under section 147 of the Act, is invalid - The notice under section 148 of the Act cannot be sustained – Decided in favour of Assessee.
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