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2019 (11) TMI 1309 - BOMBAY HIGH COURTReopening of assessment u/s 147 - HELD THAT:- There is no failure on the part of the Petitioner to make true and full disclosure of all material facts necessary for assessment. Thus, on this ground, it is beyond jurisdiction, as the notice is hit by the first proviso to Section 147 of the Act. Allowability of expenditure of renovation expenses - From the order under Section 143(3) of the Act, on this issue, the Petitioner has filed Appeal to the Commissioner of Income Tax (Appeals) who allowed the Petitioner’s appeal. This by holding that the expenses of ₹ 77 lakhs are also be allowed as Revenue expenses. The Revenue is now in appeal before the Tribunal. Therefore, it is submitted that there is no failure on the part of the Petitioner to disclose fully and truly all material facts necessary for Assessment. Thus, the notice is without jurisdiction as being hit by the first proviso to Section 147 of the Act. Besides, it is also, prima facie, hit by the third proviso to Section 147 of the Act i.e. this very issue has been decided in appeal for the subject Assessment Year. Prima facie, we find some merit in the contention.Revenue seeks time to take instructions and file affidavit in reply, if necessary. At the request of Mr. Walve, Petition is adjourned to 13th January, 2020. In the meantime, there shall be ad-interim stay of the impugned notice dated 30th March, 2019.
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