Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (11) TMI 182 - ITAT DELHIRe-opening of assessment u/s 147 of the Income Tax Act – Invocation of proviso to Section 147 of the Act - Whether there was failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment for the year in question – Held that:- During the course of original assessment proceedings the Assessing Officer had raised a question on the issue of the claimed bad debt and on the provisions of warranty and current liabilities - Tax Audit Report filed by the assessee was already there on record on the basis of which reopening of assessment u/s 147 was initiated after recording the reasons. Thus it cannot be alleged that the assessee had not disclosed all the material and relevant facts fully and truly during the course of original assessment – No reason to interfere with the finding of the ld. CIT (A) that initiation of reopening proceedings in the present case was barred under the proviso to Section 147 of the Act – Decided in favor of Assessee.
|