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2015 (8) TMI 768 - HC - Income TaxReopening of assessment - disallowance of depreciation claim - Held that:- This is not a case where the Revenue could successfully contend that the income chargeable to tax had escaped assessment due to the reason of failure on the part of the assessee to disclose truly and fully all material facts. Return that the petitioner filed runs into barely 3 or 4 pages. It was not as if that such claim of depreciation was tucked away somewhere in bulky voluminous return where the Assessing Officer could, with due diligence, have discovered such claim. The Revenue, therefore, cannot fall back on Explanation 1 of the Proviso of Section 147 of the Act also, in this respect. In fact claim of depreciation was examined by the Assessing Officer and partially disallowed with respect to other assets. The petitioner had never before the Assessing Officer contended that the asset was actually put to use in the objection that the petitioner raised to the reasons recorded by the Assessing Officer, no such contention was pressed in service. The documents, on the basis of which it is sought to be canvassed before us that there was, in fact, electricity generation during the relevant period, were not placed before the Assessing Officer either during the original assessment or in response to the notice of reopening. We would, therefore, also even otherwise not examine such factual aspect for the first time in this petition. Be that as it may, on the sole ground that for the reasons noted above, notice for reopening the assessment could not have been validly issued, we are inclined to allow this petition. Accordingly, impugned notice is quashed. Decided in favour of assessee.
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