9911796707
TMI Blog2013 (3) TMI 563X X X X Extracts X X X X X X X X Extracts X X X X ..... ommissioner of Income Tax, Circle Sultanpur (respondent No.2) contained in Annexure No.2 to the writ petition, whereby the petitioner was informed that the Deputy Commissioner of Income Tax (respondent No.2) has reasons to believe that certain income of the petitioner for Assessment Year 2006-2007 has escaped assessment. Shorn off unnecessary details the facts of the case are that the petitioner's Company had filed return of income for Assessment Year 2006-2007 in terms of Section 139 (1) of the of the Income Tax Act, 1961 (hereinafter referred to as the "Act"). The case of the petitioner was selected for scrutiny assessment and statutory notice was also issued under Section 143 (2) of the Act. During the course of assessment proceedings, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e dated 13.1.2012 i.e. after the expiry of four years from the end of relevant Assessment Year and has further invoked the extended period of limitation contained in First Proviso to Section 147 of the Act. Hence the instant writ petition. Learned Counsel for the petitioner has vehemently assailed the impugned notices on various grounds. However, considering the view that the court is inclined to take in the matter, it is not necessary to refer to all the contentions raised by the learned advocate for the petitioner. In the present petition, the main ground for assailing the impugned notice is that in absence of any allegation that the petitioner has failed to furnish fully and truly all material facts necessary for its assessment for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion has been made for the relevant assessment year, no action shall be taken under the section after expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment by reason of the failure on the part of the assessee to make a return under section 139 or in response to notice issued under subsection (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment. Thus, for the purpose of invoking section 147 after the expiry of four years from the end of the relevant assessment year, the income chargeable to tax should have escaped assessment by reason of failure on the part of the assessee either (i) to make a retu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... years under consideration. The record of the case does not in any manner indicate that proceedings under section 147 are sought to be reopened by reason of failure on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment for assessment years under consideration. The respondents has not disputed the fact that there is no failure on the part of the petitioner to disclose fully and truly all material facts. Only by way of submission advanced before the Court it is contended that in the light of the amendment of section 80-IB, it is deemed that the petitioner has failed to disclose the correct facts. As to whether or not there is any failure on the part of the assessee in disclosing fully and t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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