2012 (6) TMI 470

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.... filed by the Revenue is whether the reassessment completed under section 147 is barred by limitation. The original assessments completed for the assessment years 1992-93 and 1993-94 were revised to withdraw the ineligible relief claimed and wrongly allowed in the original assessments. We have heard senior counsel Sri P. K. Ravindranatha Menon appearing for the Revenue and senior counsel Sri V. Ra....

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.... 80HHA for any of the preceding assessment years and so much so there was suppression of facts relevant for considering the claim under section 80HH of the Act. Even though the two appellate authorities held that the assessee made disclosure in the return filed and, therefore, reopening could not be made beyond four years, we feel otherwise because, there is nothing in the return filed to indicate....

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.... as, we hold that there was suppression of material facts in the returns filed which entitles the officer for extended period of limitation for reassessment under section 147 beyond four years. So far as the withdrawal of relief granted in the original assessments under section 80-I is concerned, it is disallowed for the reason that it was claimed and granted beyond the period permitted under the ....

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....assessee in an appeal under section 260A, we will not be able to decide the same because such question raised by the assessee does not arise out of the orders of the Tribunal. However, based on the facts on record, we uphold the position canvassed by the Revenue that reassessments are not time barred by virtue of the non-disclosure of the claim allowed in favour of the assessee under section 80HHA....