2022 (6) TMI 288 - ITAT DELHI

Reopening of assessment u/s 147 - addition u/s 68 - reopening beyond period of four years - HELD THAT:- Since in the instant case the reopening has been made after a period of 04 years from the end of the relevant assessment year, the original assessment was completed under section 143(3) and in the reasons recorded by the A.O. there is mere allegation of failure on the part of the assessee to disclose fully and truly all material facts necessary for completion of assessment, but the reasons do not indicate how the assessee has failed to make full and true disclosure of all material facts, therefore, such reopening in our opinion is in violation of First proviso to Section 147 of the I.T. Act, 1961

D.R. also could not controvert the finding given by the Ld. CIT(A) on this issue while quashing the reassessment proceedings. Since the order of the CIT(A) is based on judicial precedents and the Ld. D.R. could not bring any material to controvert the findings given by the Ld. CIT(A) on this issue, therefore, we do not find any infirmity in the detailed order of the Ld. CIT(A) in quashing the re-assessment proceedings. We, therefore, uphold the same and the grounds raised by the Revenue on this issue are dismissed.