TMI Blog2010 (3) TMI 1241X X X X Extracts X X X X X X X X Extracts X X X X ..... Appellate Tribunal, Delhi Bench I New Delhi in ITA No. 4752/Del/2007 in respect of the assessment year 1998-99. The original assessment was made under Section 143(3) of the Income Tax Act, 1961 (for brevity 'the Act') on 31.1.2001. The period of four years from the relevant assessment year within which the assessment could be re-opened expired on 31.3.2003. The Assessing Officer, however ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... overed by any of the aforesaid provisions. The Tribunal proceeded to consider whether the assesseerespondent had failed to disclose all material facts necessary for assessment in the original regular assessment made under Section 143(3) of the Act. The Assessing Officer had allowed deductions under Section 80 HHC of the Act with reference to DPEB receipts. It has disclosed all the facts in resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Section 147 of the Act and issued notice under Section 148 of the Act. The Tribunal has opined that it is not justified in the back-drop of the finding that there was no failure on the part of the assessee to disclose fully and truly all material facts. We have heard the learned counsel for the Revenue. Once categorical findings have been recorded by the Tribunal that there was no concealme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in the cases of CIT v. Jasmeel Leather and Uppers 246 ITR 97 and CIT v. Vishwa Nathan and Co. 261 ITR 727. It has been held in both the judgements that duty drawback and import entitlement are the incomes which are not derived from the business, though these are attributable to business carried on by the assessee. Likewise, certain other judgements have been relied upon. A copy of the reasons is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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