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2014 (1) TMI 1896 - AT - Income TaxReopening of assessment u/s 147 - failure on the assessee’s part to disclose truly all particulars in the shape of legal and professional expenses - Reopening beyond a period of four years from the end of relevant assessment year - HELD THAT:- No paper book has been filed by the Revenue controverting the aforesaid finding of fact. Similarly, there is one thing more which we take notice of. The impugned assessment year is 2004-05. The reopening notice in the present case has been issued on 28.3.2011 - it is beyond a period of four years from the end of relevant assessment year i.e on 31.3.2005. A perusal of the first proviso to section 148 of the Act makes it clear that in case the reopening is made beyond four years from the end of the relevant assessment year, it can be only resorted to in case of failure on assessee’s part in disclosing fully and truly all material facts necessary for assessment. Undisputedly, this failure is nowhere pinpointed in the assessment order. In these circumstances, we observe that not only the impugned reopening is mere change of opinion on the part of the Assessing Officer qua legal and professional expenses, but also it is hit by first proviso to section 148 as there is no failure on the assessee’s part in disclosing truly and fully all necessary particulars. Hence, on both these counts, we hold the reopening as not sustainable in the eyes of law - Revenue’s appeal is dismissed.
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