9911796707
TMI Blog2008 (7) TMI 1011X X X X Extracts X X X X X X X X Extracts X X X X ..... r assessment pursuant to the notices issued under ss. 143(3) (sic.), 142(1) as well as s. 143(2) of the Act and on that basis, assessments were finalized. Hence, it cannot be said that there was any omission or failure on the part of the assessee to disclose all material facts truly and fully at the time of original assessment. Even a bare perusal of the reasons recorded makes it clear that the factual data was available with the AO at the time of assessment. On these very materials, if he takes a different view subsequently, that too, after expiry of four year's period from the end of relevant assessment years, that would not confer any jurisdiction upon the respondent to issue notices u/s. 148 of the Act. Therefore, we are of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ade by the AO. The petitioner challenged the said orders in appeal and vide appellate order dt. 28th Dec., 1995, the said additions have been deleted. 4. It is also the case of the petitioner that the impugned notices were issued by the respondent after expiry of period of four years from the end of relevant assessment years, i.e. 31st March, 1993 and 31st March, 1994. On receipt of the said notices, the petitioner addressed two letters dt. 16th Feb., 2000 requesting the respondent to furnish reasons recorded prior to issuance of notices under s. 148 of the Act. However, the said reasons were not supplied to the petitioner. 5. Ms. Vaibhavi Parikh, learned advocate appearing for Mr. S.N. Soparkar, learned senior advocate for the petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s fully and truly and if the notices are issued beyond four years' period from the end of relevant year, such notices are held to be invalid and accordingly, such notices are required to be quashed and set aside by the Court. 7. Mr. Manish R. Bhatt, learned senior standing counsel appearing for the Revenue, has submitted that affidavit-in-reply is filed on behalf of the Revenue and along with the affidavit, reasons recorded by the AO before issuance of notices under s. 148 of the Act are produced on record. He has further submitted that as per Expln. 2, cl. (2) to s. 147, the following shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely : (c) where an assessment has been made, but, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (3) of s. 143 of the Act. All necessary details were made available with the AO at the time of finalizing the regular assessment pursuant to the notices issued under ss. 143(3) (sic.), 142(1) as well as s. 143(2) of the Act and on that basis, assessments were finalized. Hence, it cannot be said that there was any omission or failure on the part of the assessee to disclose all material facts truly and fully at the time of original assessment. Even a bare perusal of the reasons recorded makes it clear that the factual data was available with the AO at the time of assessment. On these very materials, if he takes a different view subsequently, that too, after expiry of four years' period from the end of relevant assessment years, that woul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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