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2015 (12) TMI 1810 - HC - Income TaxReopening of assessment u/s 147 - reopening after four years - HELD THAT:- Department has issued a notice dated 10.9.2015 under Section 148 of the Act proposing to re-assess the income for the assessment year 2011-12. The reasons to believe proposes that the petitioner has failed to disclose truly and fully all material facts which are necessary for making the assessment for the relevant assessment year. The petitioner has challenged the present reassessment proceeding contending that all the necessary material had been disclosed while filing the return for the assessment year 2011- 12. The proviso to Section 147 indicates that if reassessment proceedings are reopened after the expiry of four years, it is essential that an assertion is required to be made that the assessee has failed to disclose fully and truly all the material facts necessary for the assessment for that assessment year. Prima facie, in the instant case, we find that all necessary material was disclosed by the petitioner when a return was filed on 13.12.2013 which was considered in the original assessment order. Another question which arises for consideration is, whether the notice issued under Section 148 of the Act is justifiable after the assessment under Section 143(3) of the Act made by the assessing officer is quashed. We accordingly direct Sri Ashok Kumar, the learned counsel for the Income Tax Department along with Sri Shubham Agarwal and Sri Ashok Mehta, the learned senior counsel to file a counter affidavit by 10.1.2016. Sri P. Chidambaram, the learned senior counsel along with Abhinav Mehrotra, Advocate for the petitioner will file a rejoinder affidavit within a week thereafter.
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