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TMI Blog2015 (1) TMI 1021X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal was right in law in coming to the conclusion that reopening of assessment for Assessment Year 1989-90 under Section 147 read with Section 148 of the Income Tax Act is illegal. The Tribunal was also right in coming to the conclusion that the Appellate Commissioner has not committed any error in allowing the assessee to produce new material on record. - Decided in favour of assessee. - Tax Appeal No. 749 of 2007, Tax Appeal No. 750 of 2007 - - - Dated:- 24-12-2014 - K. S. Jhaveri And K. J. Thaker,JJ. For the Petitioner : Mr. Sudhir M. Mehta For the Respondent : None JUDGMENT ( Per : Honourable Mr. Justice KS Jhaveri ) 1. Both these appeals arise from the common order of the Income Tax Appellate Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... questions of law:- [i] Whether, on the facts and in the circumstances of the case, and in law, the Income Tax Appellate Tribunal is right in coming to the conclusion that reopening of assessment for Assessment Year 1989-90 under Section147 read with Section 148 of the Income Tax Act is illegal, as reopening is beyond four years and the assessee has fully disclosed true and complete facts, necessary for assessment? [ii] Whether, on the facts and in the circumstances of the case, and in law, the Income Tax Appellate Tribunal is right in coming to the conclusion that the Appellate Commissioner has not committed any error in allowing the assessee to produce new material in violation of Rule 46A of the Income Tax Rules, without giving any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovisions of the Act, as well as verify it for arithmetical accuracy. Audit report under Section 44AB stands also prescribed thereunder and vide which the impugned payments stood disclosed to the Revenue. The same requires reporting in respect of all such payments, in excess of the prescribed limit of ₹ 10,000/-, as do not stand excluded by the clauses (a) to (I) of Rule 6DD of the rules, notified thereunder. The very fact of same being reported, therefor, implies that the assessee and tax auditor considered the same as covered by clause (j), the residuary clause of the rule 6DD. We are unable to fathom as to what other information the assessee was required to furnish in support of its claim along with its return of income; there bein ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A) has allowed the assessee's appeal, as aforestated, on the simple ground of the reassessment being time-barred under proviso to s. 147 in view of the absence of any failure of the assessee in meeting the disclosure requirements being brought forth by the Revenue. We are in full agreement with the said finding and observation of learned CIT(A), for the reasons aforestated, and, therefore, decline to interfere with his order. We decide accordingly. 9. In view of the aforesaid discussions, we are in complete agreement with the view taken by the Tribunal. The Tribunal has given cogent and convincing reasons in arriving at the conclusion. We do not find any reason to interfere with the order of the Tribunal. Hence, the present appe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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