TMI Blog2016 (4) TMI 78X X X X Extracts X X X X X X X X Extracts X X X X ..... the issues were provided to the AO by the appellant. Therefore, under these circumstances it cannot be held that in the original assessment the A.O has not applied his mind and he has not taken a conscious decision on this particular matter. In the instant case it is noted that both the issues were considered by the A.O. in the original assessment. Therefore, under these circumstances it appears that there has been no omission/failure on the part of the appellant to disclose any material fact. In the reasons recorded by the A.O. also it is not mentioned that the appellant has not disclosed any material facts. - Decided in favour of assessee - ITA No. 30/Mum/2014 - - - Dated:- 12-2-2016 - B. R. Baskaran, AM And Amarjit Singh, JM For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same is extracted below for the sake of convenience:- 2.3 On 14th December, 2007, the Ld. AO, in addition to the notice dated 14th June, 2007, issued and served another notice on the Appellant Company to file details and tender its submission on certain issues. Among the issues raised in the said notice, the Appellant Company wishes to highlight issue no. 2 and 7 raised by the Ld. AO and reproduces the same ad verbatim herein below: 2) As per Directors Report, you have claimed one time write off of doubtful debts of ₹ 3,71,03,347/- in the outdoor business. You are required to file justification for the same with evidences including year in which business income declared 7) Explain why gain on foreign currency transacti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year92, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the 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. Since the assessing officer has raised specific queries on the two issues cited above and the assessee has furnished replies, it cannot be said that there was failure on the part of the assessee to disclose fully and truly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d and he has not taken a conscious decision on this particular matter. In the instant case it is noted that both the issues were considered by the A.O. in the original assessment. Therefore, under these circumstances it appears that there has been no omission/failure on the part of the appellant to disclose any material fact. In the reasons recorded by the A.O. also it is not mentioned that the appellant has not disclosed any material facts. It is a settled principle of law repeated by various High Courts and Hon'ble Apex Court that in such a scenario the AO cannot reopen the assessment. Under these circumstances, the reopening of the assessment after the laps of four years from the end of assessment year does not appears to be justifie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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