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TMI Blog2015 (10) TMI 947X X X X Extracts X X X X X X X X Extracts X X X X ..... re-assessment proceedings pertaining to assessment year 2004-05 does not have the backing of law. Consequently, the impugned notice under Section 148 and all proceedings pursuant thereto including the order disposing of the objections are set aside - Decided in favour of assessee. - W. P. (C) 1873/2013 & CM No. 3570/2013 - - - Dated:- 8-10-2015 - Badar Durrez Ahmed And Sanjeev Sachdeva, JJ. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so of section 147 of the Income Tax Act, 1961 would come into play. One of the pre-conditions for reopening of assessment stipulated in the first proviso is that there must be failure on the part of the assessee to fully and truly disclose all the material facts necessary for the assessment. It is the case of the petitioner/assessee that the reasons recorded for reopening the assessment do not eve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ove. The escapement of income from assessment must also be occasioned by the failure on the part of the assessee to disclose material facts, fully and truly. This is a necessary condition for overcoming the bar set up by the proviso to section 147. If this condition is not satisfied, the bar would operate and no action under section 147 could be taken. We have already mentioned above that the reas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... we hold that the notice dated March 29, 2004, under Section 148 based on the recorded reasons as supplied to the petitioner as well as the consequent order dated March 2, 2005, are without jurisdiction as no action under section 147 could be taken beyond the four year period in the circumstances narrated above. 5. The said decision was also followed in Rural Electrification Corporation Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Section 147 is missing. As such, the initiation of the re-assessment proceedings pertaining to assessment year 2004-05 does not have the backing of law. Consequently, the impugned notice under Section 148 and all proceedings pursuant thereto including the order disposing of the objections are set aside. 8. The writ petition is allowed. There shall be no order as to costs. - - TaxTMI - TM ..... X X X X Extracts X X X X X X X X Extracts X X X X
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