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TMI Blog2018 (12) TMI 743X X X X Extracts X X X X X X X X Extracts X X X X ..... ties take us to the CIT(A)'s findings under challenge holding the impugned reopening / reassessment to be invalid as with the following detailed discussion: "3.2. This ground is directed against the action of the AO in reopening the assessment of the assessee, which was completed u/s 143(3) of the Act, u/s 147 of the Act and thereafter completing the assessment u/s 143(3). In this regard, the relevant portion of the AR's submission during the appellate proceeding is replicated as follows: "The above-mentioned appeal is against the re-assessment order passed by the Ld. AO. u/s 147/251/143(3) of the I. T. Act dated 24.03.2014 relating to Asstt. Year 2006- 07. The Appellant has taken only two effective grounds in this appeal. By a letter d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to disclose fully and truly all material facts necessary for its assessment. From the reason recorded by the Ld. A O. before issuing the notice uls148 dated 27.02.2013 which has been reproduced in the assessment order itself, it may kindly be seen that he has nowhere alleged that the escapement of income was on account of failure of the Assessee to disclose a/l material facts. For this reason alone, the reopening of assessment is considered bad in law as held by the Hon'ble Bombay High Court in the case of Hindusthan Lever Ltd. -vs.- Wadkar reported in 268-ITR-339. A copy of this order is enclosed. It is therefore prayed that the reopening of the assessment of the assessee for Asstt. Year 2006-07 may kindly be cancelled and consequentl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for its assessment for that assessment year. While disposing off that petition we emphasized the necessity of recording reasons and quality thereof and held that unless the reasons disclose that the income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to disclose fully and truly all material facts necessary for its assessment for that assessment year, it is not open for the AO to reopen the concluded assessment after expiry of four years." 3.4. Going by facts and law on the issue at hand, I find that the action of the AO in reopening of the case of the appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... im and therefore, its disclosure made in assessment proceedings does not satisfy the latter lines of truly ' in section 147 1st proviso' in the Act. There is no dispute first of all that the Assessing Officer's reopening reasons did not specifically indicate the assessee's failure in not having disclosed all the relevant facts "fully and truly" at the first instance. Hon'ble Bombay high court's decision (supra) holds that such an omission on part of an Assessing Officer is fatal to validity of the reopening in issue. We further find as per assessee's particulars of depreciation allowable in respect of block of assets in the relevant previous year that it had nowhere included land cost of Rs. 20,000,000/- for the purpose of the relief in iss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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