9911796707
TMI Blog2023 (2) TMI 309X X X X Extracts X X X X X X X X Extracts X X X X ..... n both the assessment years, the appeals were heard together and being disposed off by this common order for the sake of brevity. 2. Both the appeals filed by the Revenue are delayed by two days in filing the appeal, for which, the Revenue has filed petitions for condonation of the delay, to which; the ld. Counsel for the assessee has not raised any serious objection. Consequently, since the Revenue was prevented by sufficient cause, the delay of two days in filing of the appeals stands condoned and the appeals are admitted for adjudication. 3. Facts are, in brief, that the assessee is a company, engaged in the business of manufacturing of components & spares for conveyer systems and filed its return of income for the assessment year 2009 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A) deleted the addition made by the Assessing Officer. 5. Aggrieved, the Revenue is in appeal and raised common grounds for both the assessment years and the revised concise of grounds of appeal are reproduced as under: 1. The order of Ld. CIT(A) is contrary to law, facts and circumstances of the case. 2.1 The Ld. CIT(A) erred in quashing the re-assessment proceedings by relying on the decision of the Apex Court in the case of CIT vs. Lucas TVS Ltd (2001) especially when new material fact was brought on record that the assessee had claimed higher rate of depreciation on site equipment without being in the business of transportation of goods on hire. 2.2. The Ld. CIT(A) erred in quashing the reassessment proceedings in the light ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icer has not called for any details in respect of the claim of depreciation and not examined the issue. Therefore, the Assessing Officer has subsequently reopened the assessment under section 147 of the Act and issued notice under section 148 of the Act is valid and in accordance with law. 6. The ld. DR has further submitted that as per section 143(2) of the Act, the assessee has to file all the details and no details are filed in respect of fixed assets and also submitted that as per explanation of subsection (1) to section 148 of the Act, it is a clear case of escapement of income. Thus, the reopening of assessment is valid. 7. On the other hand, the ld. Counsel for the assessee has submitted that the Assessing Officer has completed the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he fixed assets purchased during the year. 7.1 The ld. Counsel has further submitted that, the Assessing Officer, when reopened the assessment, he has not mentioned any specific reasons that there is a failure on the part of the assessee to disclose all the particulars for completing the assessment. The Assessing Officer has simply recorded that there is failure on the part of the assessee to disclose all the details to complete the assessment and therefore, the notice issued by the Assessing Officer beyond four years, which is invalid and the notice issued by the Assessing Officer should be quashed. 8. We have heard both the sides, perused the materials available on record and gone through the orders of authorities below. In this case, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of assessment in this case is beyond four years. As per proviso to section 147 of the Act, there must be failure on the part of the assessee to disclose fully and truly all the material facts for completing the assessment. In this case, by considering the paper book page 4, 5, 6, 9 & 11, we of the considered opinion that the assessee has filed all the details in respect of depreciation claim made by the assessee. Therefore, it cannot be said that there is failure on the part of the assessee to disclose fully and truly all the material facts for completing the assessment. The Assessing Officer, in the reasons recorded, simply mentioned that there is a failure on the part of the assessee. The Assessing Officer has not able to establish that t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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