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TMI Blog2015 (7) TMI 690X X X X Extracts X X X X X X X X Extracts X X X X ..... nel, which confirmed the draft assessment order and thereafter the final assessment order was passed on 28.10.2010. We have already indicated that insofar as the part disallowance as revenue expenditure is concerned, the petitioner has filed an appeal which is pending before the Income Tax Appellate Tribunal. Insofar as we are concerned, we find that the petitioner had made a full and true disclosure of the material facts and, in any event, there is no allegation in the purported reasons that the petitioner did not make a full and true disclosure of the material facts at the time of the original assessment. That being the position, following the decision in Haryana Acrylic Manufacturing Co. (2008 (11) TMI 2 - DELHI HIGH COURT ) and severa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crores and has already filed an appeal before the Income Tax Appellate Tribunal, which is pending. 3. After four years from the end of the assessment year 2006-07, the notice under Section 148 was issued on 28.03.2013. When the petitioner sought the reasons for invocation of the provisions of Section 147 of the said Act, the same was supplied to the petitioner. The relevant portion of the reasons is as under:- 4. During the assessment proceedings your company has incurred expenses for Software License fee to the tune of ₹ 31.69 crores, an amount of ₹ 6.33 crores was in the nature of software license fee paid for the software which has been used for executing various revenue generating projects and remaining amount of &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 15.11.2013, which were rejected by the Assessing Officer on 21.11.2013. Thereafter, the petitioner filed the present writ petition. 5. We have heard the learned counsel for the parties. From the reasons extracted above, it is evident that they do not indicate any failure on the part of the petitioner to disclose material particulars which are necessary for the assessment. In fact, there is no such allegation at all. We may point out that in Haryana Acrylic Manufacturing Co. v. CIT: 308 ITR 38 (Delhi), this court had observed as under:- 29. In the reasons supplied to the petitioner, there is no whisper, what to speak of any allegation, that the petitioner had failed to disclose fully and truly all material facts necessary for asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 148 based on the recorded reasons as supplied to the petitioner as well as the consequent order dated 02.03.2005 are without jurisdiction as no action under Section 147 could be taken beyond the four year period in the circumstances narrated above. 6. From the above decision, it is evident that the escapement of income from assessment must necessarily be occasioned by failure on the part of the assessee to disclose material facts, fully and truly. It is clear that this is a necessary condition for overcoming the bar set up by the first proviso to Section 147. If this condition is not satisfied, the bar would operate and no action under Section 147 could be taken. 7. In the facts of the present case, we find that the petitioner ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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