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TMI Blog2016 (6) TMI 113X X X X Extracts X X X X X X X X Extracts X X X X ..... he findings recorded by the Commissioner of Income Tax (Appeals) and the Tribunal, on the inapplicability of the proviso to Section 147 of the Act to the case on hand, are findings of fact, we are satisfied that no question of law, much less a substantial question of law, arises for consideration necessitating the present appeal being entertained under Section 260-A of the Act. - Decided against revenue - I.T.T.A.No.484 of 2015 - - - Dated:- 16-2-2016 - SRI RAMESH RANGANATHAN AND SRI M.SATYANARAYANA MURTHY, JJ. FOR THE PETITONER : NARASIMHA SARMA ORDER: (per Hon ble Sri Justice Ramesh Ranganathan) For the assessment year 2003-04, an order of assessment was passed under Section 143(3) of the Income Tax Act, 1961 (for short ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue carried the mater in appeal to the Tribunal which, by order dated 12.07.2013, dismissed the appeal holding that re-computation of the earlier deduction under Section 80HHC, on the basis of the existing information, was only a change of opinion; and there was no failure on the part of the assessee to fully and truly disclose all material facts. Before us Sri B.Narasimha Sarma, learned Senior Standing Counsel for the Income Tax Department, would reiterate the very same submissions urged before the Tribunal. Section 147 of the Act relates to income escaping assessment and, thereunder, if the Assessing Authority has any reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessing Authority. In terms of the proviso, it is only when an income chargeable to tax has escaped assessment by reason of the failure on the part of the assessee (a) to make a return; or (b) to disclose fully and truly all material facts necessary for his assessment, can the assessment be reopened to bring the income, which has escaped assessment, to tax under the Act. The first limb of the proviso to Section147 of the Act is not attracted, as the respondent had filed their returns. The only question is whether they had failed to fully and truly disclose all material facts necessary for their assessment. While reopening the assessment for the assessment year 2003-04, the Assessing Authority re-computed the allowance granted earlier un ..... X X X X Extracts X X X X X X X X Extracts X X X X
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