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2022 (3) TMI 156 - HC - Income TaxReopening of assessment u/s 147 - addition u/s 14A - re-opening is after the expiry of four years from the relevant assessment year - HELD THAT:- As per proviso to Section 147 of the Act, as it was then in force, there is bar on re-opening of assessment after a period of four years where assessment under Section 143(3) of the Act has been completed unless the respondents are able to show that the escapement of income was due to failure on the part of the assessee to truly and fully disclose material facts required for assessment. Having considered the reasons, we do not find that there was any material fact which was not disclosed while the assessment proceedings were on. As noted earlier, this point has been discussed in the assessment order and the Assessing Officer had allowed petitioner’s claim for interest expenditure except a sum of ₹ 98,753/-. Simply using the expression “because of failure on the part of the assessee to fully and truly disclosed all material fact etc., would not help respondents because it is quite obvious that these expressions have been used only to overcome the restrictions in the proviso to Section 147 of the Act. WP allowed.
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