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TMI Blog2014 (1) TMI 803X X X X Extracts X X X X X X X X Extracts X X X X ..... A M Shaffique, JJ. Appellant : Sri Jose Joseph, SC, for Income Tax JUDGEMENT :- PER : Shaffique, J. This appeal is filed by the Revenue challenging the order passed by the Income Tax Appellate Tribunal, Cochin Bench in I.T.A No. 152/2009. The issue relates to assessment year 2002-2003. The Tribunal allowed the appeal filed by the assessee on the ground that the Assessing Officer cannot take any action after expiry of four years, on the basis of the amended provision to Section 80 HHC of the Income Tax Act. 2. The facts as disclosed would indicate that the assessment under Section 143 (3) of the I.T Act completed on 22.8.2004 was sought to be reopened by notice issued under Section 148 of the Act on 26.3.2008. It was inter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the subsequent retrospective amendment. It is found that no one can expect the assessee to anticipate an amendment in law in future and file the required material in advance. Hence the Tribunal came to a finding that there was no negligence on the part of the assesee in furnishing the return of the income and that subsequent amendment of law to section 80HHC and interpretation of the Supreme Court cannot be a reason for the assessing officer to reopen the completed assessment under section 143(3) after expiry of four years. Reference is made to the proviso to section 147, which clearly indicate that where an assessment under section 143(3) has been made for the relevant assessment year, no action can be taken under Section 147 after t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 80- HHC of the Act. Therefore one cannot state that there was an escaped assessment of tax which could be reopened within a period of four years from the end of the relevant assessment year. Admittedly the amendment and the judgment relied upon by the Assessing Officer was subsequent to the finalisation of the assessment proceedings. It is trite law that such subsequent amendments or subsequent interpretation of the statute is not a ground to reopen concluded transactions. Admittedly the assessment had been completed under Section 143(3) of the Act and in order to reopen the same, necessarily it has to be done within a period of four years. The first proviso to section 147 reads as under: "Provided that where an assessment under s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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