9911796707
TMI Blog2016 (6) TMI 113X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the tax liability of the assessee. In appeal, the Commissioner of Income Tax (Appeals) observed that, in view of the documents filed by the assessee and the facts disclosed by them, deduction under Section 80HHC of the Act was considered and recomputed; from the reasons recorded by the Assessing Authority, it was evident that there was no failure on the part of the assessee to fully and truly disclose all material facts necessary for the assessment; more than four years had elapsed from the end of the financial year in which the original return was filed; no new information had come forth after completion of the assessment under Section 143(3) dated 18.01.2006; the reasons recorded by the Assessing Authority showed that he only wanted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Section 147 or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned. Under the proviso thereto, where the assessment under Section 143(3) or Section 147 has been made for the relevant assessment year, no action shall be taken under Section 147 after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under Section 139 or in response to a notice issued under Section 134(1) or Section 148 or to disclose fully and truly all material facts necessary for his assessment for that assessment year. Un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll material facts necessary for their assessment. In his order, the Commissioner of Income Tax (Appeals) has categorically held that the deduction under Section 80HHC of the Act was the subject matter of scrutiny in assessment proceedings under Section 143(3) of the Act; re-computation of the same deduction, on the basis of existing information, is only a change of opinion; and there was no failure on the part of the assessee to fully and truly disclose all the material facts. This finding of fact by the Commissioner of Income Tax (Appeals) was affirmed by the Tribunal. It is not even contended before us that the said finding, recorded both by the Commissioner of Income Tax (Appeals) and by the Tribunal, suffers from perversity. As the ju ..... X X X X Extracts X X X X X X X X Extracts X X X X
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