2024 (10) TMI 1482

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..... os. 20756 and 20757 of 2021 - -
Income Tax
Validity of reopening of assessment - notice issued after expiry of normal period of limitation that is four (4) years - change of opinion - tangible materials material found or not? - HELD THAT:- Petitioner had furnished all the documents required for completing the assessment u/s 143(3) of the Income Tax Act, 1961. In the returns that was filed by .....

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..... for completing the assessment u/s 143(3) of the Income Tax Act, 1961. Decided in favour of assessee.
Hon'ble Mr. Justice C. Saravanan For the Petitioner : Mr. T. Ramesh For the Respondents : Mr. V. Mahalingam Senior Standing Counsel ORDER The Petitioner is before this Court against the Impugned Notice dated 20.03.2020 issued under Section 148 of the Income Tax Act, 1961 and the conseque .....

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..... mitted that the Petitioner was engaging in holding exhibitions and had sold business to M/s. International Trade and Exhibition India Pvt. Ltd by an agreement dated 02.05.2012 which accompanied another non-compete and non-solicitation agreement also dated 02.05.2012. 5. It is therefore submitted that the Impugned Notice and the Order disposing of the objection/overruling the objection of the Peti .....

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..... ppellate Commissioner after Assessment Order passed under Section 143(3) read with 147 of the Income Tax Act, 1961. Hence, he prays for dismissal of the present Writ Petition. 9. Having considered the submissions made by the learned counsel for the Petitioner and the learned Senior Standing Counsel for the Respondent and having perused the documents filed before this Court, it is evident that the .....

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..... hat apart, since the notice itself has been issued after expiry of four (4) years, the Department could have invoked Section 147 of the Income Tax Act, 1961, only if tangible materials were available and that there was failure on the part of the Petitioner to disclose materials/documents and informations which were required for completing the assessment under Section 143(3) of the Income Tax Act, .....

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