2006 (11) TMI 648

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....tax case appeal is directed against the order of the Income-tax Appellate Tribunal in ITA No.1691/Mds/2002 dated 28.9.2005 for the assessment year 1992-93. 2.1. The Revenue is the appellant. On filing the return of income by the assessee for the assessment year 1992-93 on 30.12.1992, assessment was completed on 24.2.1995 accepted the claim of the assessee relating to deduction under section 80HH ....

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.... the Act is invalid, as the facts do not constitute necessary ingredients to empower the assessing officer to initiate re-assessment proceedings, which contention was accepted by the Commissioner by order dated 28.9.2005. The said order was challenged by the Revenue before the Income-tax Appellate Tribunal. The Tribunal, by order dated 28.9.2005, upheld the order of the Commissioner. 2.3. Aggriev....

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....n, finding that the notice for the relevant assessment years was issue after the expiry of the period of four years from the end of the respective assessment years, violating the proviso to section 147 of the Act, held that section 147 of the Act does not postulate conferment of power upon the assessing officer to initiate re-assessment proceedings upon a mere change of opinion after the lapse of ....

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....rom the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issue under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessmen....