Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (2) TMI 485 - AT - Income TaxReopening of assessment u/s 147 - Eligibility of reasons to believe - mandation of recording reasons to believe - HELD THAT:- From the perusal of the aforesaid reasons we find that the ld. AO had not recorded anywhere regarding the failure on the part of the assessee to make full and true disclosure of material facts in the original assessment proceedings. This is a mandatory requirement of law as held by the Hon'ble Jurisdictional High Court in the case of Hindustan Lever Ltd., vs. ITO [2004 (2) TMI 41 - BOMBAY HIGH COURT] CIT(A) had quashed re-assessment proceedings on the mere fact that the ld. AO in the reasons recorded for reopening the assessment had not indicated any failure on the part of the assessee to make full and true disclosure of material facts during the original assessment proceedings - Decided in favour of assessee.
|