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TMI Blog2016 (9) TMI 334X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent - Revenue ORDER P. C. Heard. Rule. 2. The challenge in this petition is to notice dated 27 March 2015 issued by the Assessing Officer under Section 148 of the Incometax Act, 1961 ("the Act"). The impugned notice seeks to reopen an assessment for Assessment Year 2008-09. 3. The reasons recorded in support of the impugned notice, which have been upheld in the order disposing of the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs of the entity giving the loan confirmations. 4. This clearly is a case of seeking to reopen an assessment beyond the period of four years from the end of the relevant assessment year. The condition precedent to assume jurisdiction in such case is the failure of the assessee to disclose fully and truly all material facts necessary for assessment. (i) The benefit of Section 80IB of the Act was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar as this issue is concerned, the Assessing Officer has not satisfied the jurisdictional requirement by showing that there was failure to disclose fully and truly material facts on the part of the assessee necessary for assessment. (ii) So far as the second issue with regard to deduction under Sections 80IA of the Act is concerned, it is an agreed position between the parties that an identical i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hus, this is also a case where the Respondent has prima facie not been able to establish any failure on the part of the Petitioner to fully and truly disclose all material facts necessary for assessment. 5. In our prima facie view, as the reasons in support do not satisfy the requirement of the proviso to Section 147 of the Act, the impugned notice is unsustainable. Therefore at this stage, we ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the context of assessment being reopened within a period of four years from the end of the relevant assessment years. In such cases of reopening of assessment in less than four years, the jurisdiction is not dependent upon failure to disclose fully and truly all material facts necessary for assessment as in this case, where the reopening is for a period beyond a period of four years from the en ..... X X X X Extracts X X X X X X X X Extracts X X X X
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