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TMI Blog2023 (12) TMI 215X X X X Extracts X X X X X X X X Extracts X X X X ..... ears. Within four years, the respondents are supposed to re-open the assessment otherwise, in terms of the first proviso to Section 147, the respondent is supposed to empower to re-open, in the event if there is any failure on the part of the assessee to disclose the income. When an assessment under sub-section (3) of Section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of the four years period from end of the relevant assessment year, 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) or Section 142 or Section 148 or to disclose fully and truly all material facts necessary for the assessment, for that assessment year. 3. The learned counsel for the petitioner would submit that in terms of Section 149 of the Act, time limit has been prescribed for the purpose of issuing notice for the purpose of re-opening the assessment under Section 147. He would further submit that the petitioner has disclosed the income in his return of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, the learned Standing Counsel would submit that merely producing the books of accounts or other evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not necessarily amount to disclosure within the meaning of the foregoing proviso. Therefore, even assuming that the petitioner has produced some documents, it will not amount to proper disclosure within the meaning, in terms of explanation to Section 147 of the Act and hence they are empowered to re-open the assessment. 6. Heard the learned counsel appearing for the petitioner as well as the learned Standing Counsel appearing for the respondents and perused the materials available on record. 7. Upon perusing the records and hearing the submissions of the learned counsels, it appears that the four year limitation for re-opening the assessment in terms of Section 147 for the Assessment Year 2013- 2014 admittedly expired on 30.03.2019. In terms of first proviso to Section 147, if the respondent intends to re-open the assessment, only in the circumstances by the reason of the failure on the part of the assessee to make a return under Section 139 or in response to a notice is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anation 2.-For the purposes of this section, the following shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely:- (a) where no return of income has been furnished by the assessee although his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax; (b) where a return of income has been furnished by the assessee but no assessment has been made and it is noticed by the Assessing Officer that the assessee has understated the income or has claimed excessive loss, deduction, allowance or relief in the return; [(ba) where the assessee has failed to furnish a report in respect of any international transaction which he was so required under section 92E; (c) where an assessment has been made, but- (i) income chargeable to tax has been under assessed; or (ii) such income has been assessed at too low a rate; or (iii) such income has been made the subject of excessive relief under this Act ; or (iv) excessive loss or depreciation allowance or any other allowance under this Act has been computed;] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o filed wherein, it is seen that in the said returns, particularly in Schedule EI, the details of the exempted income were provided under the category "Others" and the exempted income categorically has been shown as Rs. 9,96,57,897/- . Therefore, there is no doubt that assessee has disclosed the income earned out of the sale of the agricultural land. At this juncture, the learned Standing Counsel for the respondent raised an issue with regard to the income shown in the category "others". But the assessee has not mentioned anything that was bought out of the sale of agricultural land. 11. In reply, the learned counsel for the petitioner would submit that during the course of assessment, the Assessing Officer called for various informations by virtue of notice dated 24.06.2015 and the assessee has filed reply dated 04.02.2016 and also dated 30.01.2016. In the reply dated 30.01.2016, the petitioner has provided the ledger details of Kyanallur property and also produced a copy of the sale deed of Kyanallur property. These particulars were provided only upon subsequent request made by the Assessing Officer. The production of sale deed cannot be construed as production of books of accou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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