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TMI Blog2019 (2) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Act and is without jurisdiction. Also during the assessment proceeding queries were raised by the Assessing Officer with regard to the petitioner’s claim for provision for doubtful debts and petitioner had responded to same in detail by its letter dated 12th January, 2015. It was after AO satisfying himself with the petitioner’s reply that the petitioner's book profit were determined under section 115JB of the Act. This would indicate that the impugned notice is an attempt to review the order dated 17th March, 2015 under Section 143(3) of the Act, which is clearly not permissible. - Decided in favour of assessee. - Writ Petition No. 3617 of 2018 - - - Dated:- 24-1-2019 - AKIL KURESHI AND M.S. SANKLECHA, JJ. Mr. Madhur Agr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Brief details of the Assesse: In the instant case, the assessee has filed return of income for the A.Y. 201112 on 30.11.2011 declaring total income of ₹ 1,76,28,270/. The same was processed u/s. 143(1) of the Act. Further, assessment u/s 143(3) of the Act was completed on 17.03.2015 assessing total income at ₹ 2,76,13,880/. The assessee company is engaged in the business of telecommunication and power cables accessories. 2. Brief details of information collected/ received by the AO: In the year under consideration, the assessee has offered income u/s 115JB but not added ₹ 8,69,58,000/as provision for doubtful debts debited in P/L a/c . in computation of book profit. Citing supreme court judgment 323 ITR 166 where ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agraph 2 3 above. 6. Basis of forming reason to believe and details of escapement of Income: As mentioned in the paragraph 2 3 above. 7. Seventh paragraph will include escapement of income chargeable to tax in relation to any assets (including financial interest in any entity) located outside India: N.A. 8. Finding of AO on true and full disclosure of the material facts necessary for assessment under Proviso to section 147: In view of the reason for reopening as mentioned above and totality of the facts and documents on record coupled with the information gathered, I have reason to believe that ₹ 8,69,58,000/chargeable to tax for F.Y. 2010-11 relevant to A.Y. 2011-12 has escaped assessment, as assessee has failed to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the assessee had not truly and fully disclosed material facts necessary for his assessment for the year under consideration thereby necessitating reopening u/s 147 of the Act. It is true that the assessee has filed a copy of annual report an audited P L account and balance sheet along with return of income where various information/material were disclosed. However, the requisite full and true disclosure of all material facts necessary for assessment has not been made as noted above. It is pertinent to mention here that even though the assessee has produced books of accounts, annual report, audited P L account and balance sheet or other evidence as mentioned above, the requisite material facts as noted above in the reasons for reo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons recorded. (e) This resulted in filing of the present petition, challenging the jurisdiction of the Assessing Officer to issue the impugned notice dated 27th March, 2018, seeking to reopen the assessment for Assessment Year 2011-12. 3. We have heard the parties at length. We note from the record it is evident that the impugned notice has been issued on 27th March, 2018 i.e. beyond the period of 4 years from the end of the relevant assessment year i.e. 2011-12. This coupled with the fact that the regular assessment proceedings for the subject assessment year were completed on 17th March, 2015 under Section 143(3) of the Act. The reasons in support the impugned notice do not indicate that there was any failure on the part of the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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