9911796707
TMI Blog2008 (7) TMI 1011X X X X Extracts X X X X X X X X Extracts X X X X ..... tion was admitted by this Court on 12th July, 2000 and interim relief in terms of para 7(B) of the petition has been granted whereby implementation, execution and operation of the impugned notices were stayed. The Court has also stayed further proceedings pursuant to the said notices. 3. It is the case of the petitioner that the petitioner is a company regularly assessed under the Act. For asst. yrs. 1992-93 and 1993-94, the petitioner had filed its returns of income, which were taken in scrutiny assessment under s. 143(3) of the Act. The assessments for both the assessment years were framed by the AO on 25th March, 1995 and various additions were made by the AO. The petitioner challenged the said orders in appeal and vide appellate order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disclose fully and truly all material facts necessary for the assessment then said period of limitation does not apply. She has further submitted that there is nothing to show that there is failure on the part of the petitioner to give fully and truly all material facts of relevant assessment. She has, therefore, submitted that the impugned notices issued by the respondent are without jurisdiction and are required to be quashed and set aside. 6. She has further submitted that this Court as well as the apex Court have taken a consistent view and repeatedly held that if there is no failure on the part of the assessee to supply all material facts fully and truly and if the notices are issued beyond four years' period from the end of rele ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee and if the assessee has any grievance, an alternative remedy is available and, hence, on this ground also, the petition deserves to be dismissed. 9. Having heard the learned advocate for the petitioner and learned senior standing counsel appearing for the Revenue and having gone through the petition, affidavit-in-reply as well as affidavit-in-rejoinder and more particularly reasons recorded by the AO before issuance of notice, we are of the view that there is no omission or failure on the part of the assessee to disclose all material facts truly and fully. The assessments for both the years have been completed under sub-s. (3) of s. 143 of the Act. All necessary details were made available with the AO at the time of finalizing the r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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