2015 (12) TMI 1810

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..... as issued a notice to file the return for the assessment year 2011-12. The petitioner filed the return on 13.12.2013 indicating that they are exempted from payment of any income tax. The contention of the petitioner was rejected and an assessment order was made on 29.3.2014 under Section 143(3) of the Income Tax Act. The petitioner, being aggrieved, filed an appeal which was dismissed and thereaft .....

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..... s failed to disclose truly and fully all material facts which are necessary for making the assessment for the relevant assessment year. The petitioner has challenged the present reassessment proceeding contending that all the necessary material had been disclosed while filing the return for the assessment year 2011- 12. The proviso to Section 147 indicates that if reassessment proceedings are re .....

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..... d senior counsel to file a counter affidavit by 10.1.2016. Sri P. Chidambaram, the learned senior counsel along with Abhinav Mehrotra, Advocate for the petitioner will file a rejoinder affidavit within a week thereafter. List for admission and for final disposal on 21.1.2016. In view of the aforesaid, further re-assessment proceeding under Section 148 of the Act, for the assessment year 2011-1 .....

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