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TMI Blog2016 (5) TMI 477X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessing Officer had granted permission by writing dated December 19, 1996 to make the remittance. The petitioner has also disclosed its audited balance-sheet as also the quantum of remittance made and the manner calculated and arriving at the quantum of deductions claimed by the petitioner for the relevant assessment year. The assessment year was assessed on scrutiny under Section 143(3) of the Income Tax Act, 1961. The Assessing Officer was silent on account of the deductions claimed. He had allowed the amount of deductions claimed on such head in the order of assessment under Section 143[3} of the Income Tax Act, 1956. The petitioner is not guilty of disclosing fully and truly all materials facts necessary for its assessment for the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ign supplier by a letter dated June 22, 1993. The petitioner had also written a letter dated December 13, 1996 to the Assessing Officer seeking no objection certificate permitting remittance at the earliest. The Assessing Officer had permitted the remittances as would appear from a writing dated December 19, 1996. He has referred to the order of assessment under Section 143[3] of the Income Tax Act, 1961. He has submitted that the entire materials relating to remittance for the technical knowhow were before the Assessing Officer. In the event the Assessing Officer has made a mistake in calculation, the Assessee cannot be made liable for the same. The Assessing Officer while invoking the Sections 147 and 148 of the Income Tax Act, 1961 ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... voke the provisions of Sections 147 and 148 of the Income Tax Act, 1961. It appears from the order dated May 22, 2001 passed by the Assessing Officer that the Assessing Officer claims that the deduction allowable on acquisition of technical knowhow was excessively made by the petitioner and the petitioner should make good difference. For the assessment year 1994-1995, the Assessing Officer had issued a notice for scrutiny on March 4, 1997. It was replied to by the petitioner on March 11, 1997. The assessment order under Section 143(3) of the Income Tax Act, 1961 was passed on March 31, 1997. The Assessing Officer had allowed the deduction as claimed on this account in this assessment order. The petitioner being aggrieved by the dealin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e to Section 147(a) to remedy the error resulting from his own oversight. Ganesh Housing Corporation Ltd (supra) has expressed a similar view. Apart from the other grounds permissible, the provisions of Section 147 of the Income Tax Act, 1961 can be invoked when an assessee is guilty of not disclosing fully and truly all materials facts necessary for its assessment for that assessment year. In the facts of the case the allegation is that the petitioner had claimed deductions in excess of the amount that it is entitled to for the relevant year. The impugned order dated May 22, 2001 alleges that the petitioner is guilty of failing to disclosure fully and truly all relevant facts for the allowance of claim under Section 35AB of the In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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