TMI Blog2017 (9) TMI 851X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the Assessee in response to the questionnaire. It is not for the Assessee to suggest to the AO how he should conduct the inquiry. There was no failure by the Assessee to fully and truly disclose all material facts necessary for the assessment. Since the pre-requisites for assumption of jurisdiction under Section 147 of the Act were not fulfilled, the Court has no hesitation in quashing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AY ) 2009-10. 2. The facts, which are not in dispute, are that the original assessment was completed after scrutiny of the return under Section 143 (3) of the Act on 23rd December, 2011. Further, the reopening of the assessment is sought to be made after the expiry of four years from the end of the relevant AY. Consequently, the first proviso to Section 147 of the Act applied. In other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m the Investigation Wing of the Income Tax Department, New Delhi on the basis of a Tax Evasion Petition ( TEP ) received against the Assessee. The report of the Investigation Wing stated that a huge amount of interest was paid to various foreign companies in the FY 2008-09. The AO extracted a portion of the report of the Investigation Wing which doubted the genuineness of the interest payments mad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs, a questionnaire was issued by the AO to the Assessee, in which a specific question was raised as regards the payment of interest. In reply thereto, the Assessee, by a letter dated 12th October 2011, addressed to the AO furnished details of the creditors and their addresses. 6. Mr. Asheesh Jain, learned Senior Standing Counsel for the Revenue, submitted that the break-up of the payments m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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