2011 (11) TMI 445

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....al background.   3. The petitioner is a private limited company. It is engaged in the business of construction. The petitioner claimed deduction under section 80IA(10) of the Income Tax Act, 1961 for the assessment year 2004-05. The petitioner filed its return of income on 1.11.04 declaring income of Rs.7.77 lacs (rounded off). The petitioner had claimed deduction under section 80IA in the said return. The return filed by the assessee was taken in scrutiny. The Assessing Officer made certain queries. Eliciting response from the petitioner, the Assessing Officer framed scrutiny assessment on 21.12.06. The claim of the assessee for deduction under section 80IA was allowed in part. On certain grounds, the claim was restricted. However,....

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.... issued to the assessee."   5. The petitioner raised objections to such reopening under communication dated 13.4.2011. Such objections were, however, disposed of by the Assessing Officer vide his order dated 26.9.2011. At that stage, the petitioner has approached this Court by filing the present petition challenging the notice for reopening the assessment.   6. Counsel for the petitioner submitted that the assessment which was previously framed after scrutiny is sought to be reopened beyond the period of four years from the end of relevant assessment year. In the reasons recorded, there is not even an allegation that any income chargeable to tax has escaped assessment on account of the assessee failing to disclose truly and ....

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....nbsp; 11. Having thus heard the learned counsel for the parties and having perused the record, we may recall that the assessment which was previously framed under section 143(3) of the Act is sought to be reopened beyond four years from the end of relevant assessment year. To enable the Assessing Officer to do so, there had to be some material to indicate that the income chargeable to tax had escaped assessment on account of failure on the part of the assessee to disclose truly and fully all material facts for such assessment. In the present case, in the reasons recorded, no such indication is made. We have perused the order passed by the AO disposing of the objections of the assessee as also the affidavit filed before us. Even in these ....