Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (2) TMI 862 - HC - Income TaxReopening of assessment - Whether the bar of four years provided by first proviso of section 147 of the Income Tax Act can be made applicable to the facts of the present case or not? - Held that:- When even as per the respondent, all the relevant facts were disclosed and produced at the time of earlier assessment pertaining to the claim of depreciation and when there is no ground for non-discloser of true and correct relevant material, bar of 4 years, as per first proviso to Section 147 of the Act, would apply and the action under Section 147 of the Act for reopening of the assessment could be said as without jurisdiction and the action cannot stand in the eye of law. As decided in the case of General Motors India (P) Ltd. (2012 (8) TMI 714 - GUJARAT HIGH COURT) if the objections are not decided to the reasons for opening of reassessment and the department has proceeded for reassessment, the assessee would be well within his right to invoke the jurisdiction of this Court under Article 226 of the Constitution. As the mandatory procedure is not followed for disposal of the objection before proceeding with reassessment, initiation of the action as well as the subsequent order for reassessment would be required to be quashed. - Reassessment quashed - Decided in favour of assessee.
|