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M/s. Idea Cellular Ltd. Versus Dy. Commissioner of Income Tax - 3 (2) , Mumbai

2016 (6) TMI 201 - ITAT MUMBAI

Reopening of assessment - reasons to believe - Held that:- From the reasons recorded by the AO it reveals that there is no whisper about what material facts the assessee had failed to disclose fully and truly. The reopening has been done on the basis of facts and material which were already on record. There is no allegation that there was any failure on the part of the assessee to disclose fully and truly any material fact, necessary for the completion of assessment. Even, there is no such menti .....

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1028/M/2013 - Dated:- 3-2-2016 - Shri B. R. Baskaran, Accountant Member And Shri Sanjay Garg, Judicial Member For the Assessee : Shri Ronak G. Doshi, A.R. For the Revenue : Shri B.C.S. Naik, D.R. ORDER Per Sanjay Garg, Judicial Member The present appeal has been preferred by the assessee against the order dated 26.11.2012 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2003-04. 2. The assessee has agitated the impugned additions wh .....

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8377; 1,74,69,87,876/-. Subsequently, proceedings under section 147 of the Act were initiated and notice under section 148 was sent on 30.03.10 and served on the assessee on 31.03.10. The Ld. A.R. of the assessee has stressed that the reopening in this case was done after four years from the relevant assessment year 2003-04. He, in this respect, has submitted that the that the notice under section 148 was issued to the assessee beyond the period of four years from the relevant assessment year, w .....

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e has reason to believe that any income chargeable to tax has escaped assessment. The courts of law have time and again held that such a reason to believe that the income of the assessee has escaped assessment should be based on some material which comes to the knowledge of the AO. As per the 1st proviso to section 147 of the Act, the assessment once completed under section 143(3) cannot be reopened under section 147 after the expiry of four years from the end of the relevant assessment year, un .....

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