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2017 (4) TMI 244 - AT - Income TaxReopening of assessment - disallowance u/s. 40(a)(ia) - true and full disclosure - Held that:- There was an assessment order u/s. 143(3) completed, after due verification of the return and AO in that order has disallowed various amounts. It shows that AO has examined the documents placed on record. The fact that a notice u/s. 154 was issued prior to reopening u/s. 147, belatedly after four years, itself indicate that the so called disallowance u/s. 40(a)(ia) is based on the evidence available on record. Therefore, it can be concluded that there is no failure on the part of assessee in furnishing necessary details. AO has resorted to proceedings u/s.147, as assessee objected to proceedings u/s. 154 which were initiated beyond four years period from the date of the order. Thus, on that preliminary ground itself, the reopening per se is not justified. - Decided in favour of assessee
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