Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (1) TMI 1325 - ITAT DELHIReopening of assessment - notice beyond the period of four years - allegation of failure on the part of the assessee to disclose fully and truly all material facts - Held that:- A bare perusal of the reasons recorded shows that there is no allegation by the Assessing Officer of any failure on the part of the assessee to disclose fully and truly all material facts necessary for completion of the assessment. In absence of such allegation of failure on the part of the assessee to disclose fully and truly all material facts necessary for completion of the assessment, the reassessment proceedings have been held to be invalid by various decisions. The Hon'ble Bombay High Court in the case of Hindustan Lever Ltd. vs. R.B. Wadkar [2004 (2) TMI 41 - BOMBAY HIGH COURT] has held that where reasons recorded by the Assessing Officer nowhere stated that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment of that assessment year and notice was clearly beyond the period of four years, reassessment was barred by limitation - decided in favour of assessee.
|