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2012 (10) TMI 1145 - HC - Income TaxReopening of assessment - notice issues after four years - Held that:- AO, in the reasons recorded, after relying on the Tribunal’s decision in the assessee’s own case for a different assessment year, has merely made a bald statement that the assessee had failed “to disclose truly and fully all legal facts”. It is borne out from the record that the assessee had provided in its P&L A/c software expenses as revenue in nature. AO in the original assessment had, without any discussion in the assessment order, allowed these software expenses as revenue expenditure, and this was sought to be disturbed in the reassessment proceedings after expiry of four years. This is a clear case where the primary facts were available before the AO, and therefore, the assessee cannot be held to have failed to disclose “fully and truly all material facts”. It was for the AO to draw the appropriate inference. The assessee is/was under no obligation to draw the inference of fact or law based on the primary facts available on record. - Decided against revenue
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