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2015 (10) TMI 751 - HC - Income TaxReopening of assessment - Tribunal setting aside the order under Section 143(3) r.w.s. 147 - Held that:- Having gone through the reasons recorded for issuing notice, as well as the assessment order dated 27.12.2010, we do not find that there is any finding recorded to the effect that the assessee failed to disclose fully and truly all material facts necessary for the relevant assessment year. The submission of the learned counsel for the appellant is that certain deductions had been claimed on the basis of an agreement under which commission was paid by the assessee and since after the survey conducted on 5.11.2009, it was found that the agreement was not genuine, it would amount to failure on the part of the assessee to disclose fully and truly all material facts and thus the notice could have been issued beyond the period of four years under the first proviso to Section 147 of the Act. In our opinion, since such reason has not even been specified in the reasons recorded in the notice or in the assessment order itself, the notice issued beyond the period of four years has rightly been held to be invalid by the learned Tribunal. The Tribunal has rightly relied on the decision of this Court in the case of Hewelett Packard Digital Global Soft Ltd., (2011 (9) TMI 800 - Karnataka High Court ) and as such do not find any infirmity with the order of the Tribunal. - Decided against revenue.
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