TMI Blog2013 (3) TMI 645X X X X Extracts X X X X X X X X Extracts X X X X ..... on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment for the assessment years under consideration, the notice under section 148 of the Act having been issued after the expiry of a period of four years from the end of the relevant assessment years, the very initiation of proceedings under section 147 of the Act stand vitiated and as such cannot be sustained. - Decided in favour of assessee. - Writ Petition No. 2392 (M/B) of 2013 (TAX) - - - Dated:- 20-3-2013 - Rajiv Sharma AND DEVENDRA KUMAR ARORA, JJ. For the Respondent : Prashant Kumar ORDER 1. Heard learned Counsel for the petitioner, Sri Prashant Kumar, learned Counsel for the respondent Nos. 2 and 3. 2. Through t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 148 of the Act, to which the petitioner, vide its letter dated 30.1.2012, while complying with the notice dated 13.1.2012, filed the return of income for Assessment Year 2005-2006 and also while placing reliance upon the judgment of the Apex Court in GKN Driveshafts (India) Ltd. v. ITO [2003] 259 ITR 19/[2002] 125 Taxman 963, requested the respondent No.2 to provide the copy of reasons recorded by him which formed the basis for issuance of notice dated 13.1.2012 under Section 148 of the Act. In response to the letter dated 30.1.2012 of the petitioner, respondent No.2 supplied the copy of reasons recorded by him which formed the basis for issuance of Notice dated 13.1.2012 under Section 148 of the Act on 3.2.2012. According to the peti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not dispute that there was any failure on the part of the petitioner in disclosing fully and truly all material facts relevant for its assessment but he invited our attention to the reasons recorded for reopening the assessments under Section 147 of the Act i.e. in the light of the amendment of section 80-IA vide Finance (No.2) Act, 2009 with retrospective effect from 01.04.2000 and as such, it is deemed that the assessee had not submitted the true facts at the relevant point of time, thus, the provisions of section 147 are clearly attracted. 7. In the facts of the present case, relevant Assessment Years is 2005-2006. The notice under section 148 of the Act relating to Assessment Year 2005-2006 has been issued on 13.1.2012. Computing the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndition, viz. failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment is concerned, on a plain reading of the reasons recorded, it is apparent that the same are totally silent as regards any failure on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment for the relevant assessment years. 10. From the reasons recorded, it is apparent the assessment is sought to be reopened only on the ground that as per the explanation given below sub-section (13) of section 80-IA of the Act, which has been substituted by the Finance Act No.2 of 2009 with retrospective effect from 1.4.2000, deduction under section 80-IA would not be admissible to an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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