2011 (9) TMI 800

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....ment years 1996-97 and 1997-98. The question involved in both these appeals is whether the Assessing Authority was justified in reopening the assessment under Section 147 of the Act after a period of four years from the end of the assessment year. For the assessment year 1996-97, the assessee filed a return on 29.11.1996 declaring nil income. The same was processed without any adjustment. Subsequently, assessment under Section 143(3) was framed on 23.3.1999, whereby some additions were made. Apart from other additions, the Assessing Officer recomputed relief under Section 10A of the Act. For the first time, the case was reopened under Section 147 of the Act on 23.3.1999 and reassessment order was passed on 20.3.2002. Again, the original ass....

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.... time of assessment, which is a condition precedent for re-openinq of the assessment and passing of an order on that ground Relying on the judgment of the Bombay High Court in the case of Hindustan Lever Ltd., vs. ACIT reported in 268 ITR 332, the Tribunal held that there was no material to indicate that the assessed failed to disclose fully and truly ail material facts and therefore reopening after expiry of four years cannot be allowed to stand. It is a case of change of opinion,. which is not permitted in law. Therefore, the Tribunal set aside the order passed by the Appellate Commissioner as well as the original assessment order. Aggrieved by the said order, the revenue has filed these appeals.   3. The learned Counsel for the r....

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....in order to determine whether the said amount of Rs.9,62,770/- is taxable or not. As rightly-pointed out by the Tribunal, the said note did disclose the full and true particulars and the assessee has not suppressed or omitted to mention any particular which is required for framing of assessment. In this context, the aforesaid judgment of the Bombay High Court in the case of Hindustan Lever Ltd., vs. ACIT's vs assumes importance.   7. It is observed in the said judgment that the reason recorded by the Assessing Officer no where state that there was failure on the part of the assessee. to disclose fully and truly all material facts necessary for the assessment of that assessment year. It is for the Assessing Officer to disclose and op....