TMI Blog2013 (7) TMI 446X X X X Extracts X X X X X X X X Extracts X X X X ..... and the true state of affairs can be brought to light only on furnishing the export turnover details sought for from the part of the third respondent and the actual fact has to be established by the assesse – petition decided against the assesse. - - - - - Dated:- 12-4-2013 - RAMACHANDRA MENON P. R., J. JUDGMENT P. R. Ramachandra Menon J.-Exhibit P-12 speaking order passed by the third respondent in a proceeding under section 147 of the Income-tax Act, 1961, is under challenge in this writ petition. The sequence of events shows that the assessment in respect of the year 2005-06 was finalized by the third respondent as per exhibit P-1 order dated December 24, 2007, under section 143(3) of the Income-tax Act. Subsequently, exhibit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it case where the power and procedure under section 147 was to be invoked asking the assessee to furnish the particulars so as to proceed with the matter on the merits, which in turn is under challenge in this writ petition. The learned counsel for the petitioner submits that there is absolutely no rhyme or reason for reopening the assessment under section 147 and that the specific requirements of the provisions are not satisfied. It is stated that the reassessment is proposed to be made after a lapse of four years and that there is absolutely no lapse, fault or failure on the part of the assessee in the matter of disclosure of the relevant facts and figures and it was accordingly, that the assessment was finalized earlier under section 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12, which, according to the respondents, is perfectly within the four walls of law and not assailable under any circumstances. The learned counsel adds that there is patent non-disclosure of actual facts from the part of the assessee, leading to escapement of income, and as such, it is a case which falls within the parameters of section 147 of the Act. After hearing both the sides and after going through the materials on record, it cannot be said that there is any procedural lapse on the part of the respondents. The request made by the assessee, vide exhibit P-7 to furnish reasons was favourably considered and exhibit P-8 reply was sent furnishing the reasons in the following terms : "The assessee, M/s. Suntech Business Solutions (P.) L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P-1 order disallowing an amount of Rs.1,53,95,507 (rupees one crore fifty-three lakhs ninety-five thousand five hundred and seven) out of the export turnover for the purpose of reducing the quantum of deduction claimed under section 10B of the Act. This aspect, along with such other points raised in exhibit P-9 statement of objections were meticulously analysed by the third respondent while passing exhibit P-12 order. The assessee contended that there was no violation under section 10B(3) of the Act and in the revised statement of total income, the said amount was excluded and that appeal is pending. The third respondent observed with reference to the records that no revised return of income was filed by the assessee, revising the total ..... X X X X Extracts X X X X X X X X Extracts X X X X
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