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TMI Blog2025 (2) TMI 155X X X X Extracts X X X X X X X X Extracts X X X X ..... r referred as 'Ld. AO') under section 147/143(3) of the Income Tax Act, 1961 [hereinafter referred to as "the Act"] for the Assessment Year 2009- 10. 2. Brief facts of case are that on 30.09.2009, assessee filed return of income declaring income of Rs. 57,98,660/-. The case was reopened under section 148 of the Act with prior approval of learned Pr. CIT, Delhi vide approval letter dated 29.03.2016 as per information received from letter dated 18.03.2016. In response to notice, Shri Dinesh Sharma, Authorized Representative attended and filed submission vide letter dated 02.05.2016 vide which he requested that ITR filed originally on 30.09.2009 may be treated the return of income filed with respect to the notice under section 148 of the Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refer to the reasons to believe that any income chargeable to tax has escaped assessment for any assessment year. Hon'ble High Court of Delhi in the case of Wel Intertrade (P.) Ltd. & Anr. Vs. Income Tax Officer reported in (2009) 178 Taxman 0027 observed as under : "A plain reading of proviso to s. 147 makes it more than clear that where the provisions of s. 147 are being invoked after the period of four years from the end of the relevant assessment year, in addition to the AO having reason to believe that any income chargeable to tax has escaped assessment, it must also be established as a fact that such escapement of assessment has been occasioned by either the assessee failing to make a return under s. 139, etc. or by reason of failu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epartmental Representative for the Department relied on the discussion of learned CIT(A). 7. From examination of record in light of aforesaid rival contentions, it is crystal clear that appellant/assessee had filed return of income on 30.09.2009 for A.Y. 2009-10. The return was processed under section 143(1) of the Act. The assessment proceedings under section 143(3) of the Act were completed by learned AO vide order dated 28.12.2011. On receipt of information vide letter dated 18.03.2016 and analysis of documents vide reasons dated 23.03.2016 notice under section 148 of the Act was issued. 7.1 As per proviso to section 147 where the provisions of Section147 are being invoked after four years from the end of relevant assessment year, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... should be clear and unambiguous and should not suffer from any vagueness. The reasons recorded must disclose his mind. Reasons are the manifestation of mind of the AO. The reasons recorded should be self-explanatory and should not keep the assessee guessing for the reasons. Reasons provide link between conclusion and evidence. The reasons recorded must be based on evidence. The AO, in the event of challenge to the reasons, must be able to justify the same based on material available on record. He must disclose in the reasons as to which fact or material was not disclosed by the assessee fully and truly necessary for assessment of that assessment year, so as to establish vital link between the reasons and evidence. That vital link is the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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