2013 (4) TMI 264

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....raised the following grounds before us :- "1. The ld. CIT(A) erred in law and on facts of the case in holding that the Assessing Officer has nowhere stated in the reasons recorded that the assessee had failed to disclose fully and truly all material facts necessary for assessment proceedings. In Annexure "A" of letter dated 04.03.2011 for seeking approval to issue notice u/s 148, it was clearly mentioned that the escapement of income has been on account of failure on part of the assessee to truly and fully disclose all the material facts necessary for assessment. 2. The ld. CIT(A) has erred in relying on the assessee's mere observation in his objection that all details with regard to advertisement expenditure had been submitted during the....

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.... is on account of failure on the part of the assessee to furnish a return of income or to disclose fully and truly all material facts necessary for assessment. Admittedly, there is no failure on the part of the assessee to furnish the return of income. Original assessment was completed under Section 143(3) and reopening is made after more than four years from the end of the relevant assessment year. Therefore, let us examine whether there was any failure on the part of the assessee to disclose fully and truly all material facts. The reasons recorded for reopening of assessment are reproduced at page 1 of the assessment order and for the sake of ready reference, we reproduce the same hereunder:- "During the year, the assessee has claimed a ....