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TMI Blog2010 (8) TMI 617X X X X Extracts X X X X X X X X Extracts X X X X ..... t, 1961 (hereinafter referred to as "Act, 1961") challenging the order dated 31st March, 2009 passed by the Income-tax Appellate Tribunal (for brevity "ITAT") in ITA No. 273/Delhi/2008 for the assessment year 1998-1999. 2. The relevant facts of the present case are that on 25-1-2001, the respondent-assessee filed its return declaring an income of Rs. 13,40,570. The said return was processed under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f mere change of opinion did not arise in the present case as the Assessing Officer in the first instance had not applied his mind and taken a conscious decision on the issue that had arisen for consideration during the reassessment proceedings. In this connection Ms. Bansal relied upon certain observations made by the CIT(A) in its order dated 6-11-2007. 4. Having heard learned counsel for the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment for such assessment year by reason of failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year." 5. From a plain reading of the above proviso, it is apparent that where an assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 139 or in response to notice under section 142(1) or 148 nor there is any allegation that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment. Assessment was completed under section 143(3) and the notice for reopening under section 148 was issued long after expiry of 4 years from the end of the relevant assessment year. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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