2016 (4) TMI 815

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....nder section 148 of the Income Tax Act, 1961 (hereinafter referred to as the "Act") whereby, he seeks to reopen the assessment of the petitioner for assessment year 2008-09. 3. The facts stated briefly are that the petitioner is a Cooperative Society manufacturing sugar from sugarcane supplied by its members and has been assessed to tax under the provisions of the Act for the last several years. For assessment year 2008-09, the Assessing Officer issued the impugned notice dated 25.03.2015 under section 148 of the Act in response to which, the petitioner addressed a letter dated 05.01.2016 stating that the return under section 139 of the Act as originally filed be considered as a return in response to reassessment notice and also prayed f....

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.... Tax (supra), the present petition also deserves to be allowed by quashing and setting aside the impugned notice. Referring to the above decision, it was pointed out that the petitioner herein was one of the parties before this court and had challenged the reopening of its assessment for assessment years 2007-08 and 2009-10. It was further submitted that the above decision of this court was carried before the Supreme Court and the special leave petition filed against the said decision came to be dismissed and hence the said decision has attained finality. Reference was also made to an unreported decision of this court in the case of Shri Narmada Khand Udhyog Sahkari Mandali Ltd. v. Income Tax Officer, Ward-2(1) rendered on 02.02.2016 in Spe....

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....ve that the income has escaped assessment. The court took note of the fact that despite the fact that in certain cases, reopening was beyond a period of four years, in the reasons recorded, there was not even a whisper as regards any failure on the part of the petitioner to disclose fully and truly all material facts. 7. In the facts of the present case, the impugned notice under section 148 of the Act has been issued on 25.03.2015 for reopening the assessment for assessment year 2008-09, which is clearly beyond a period of four years from the end of the relevant assessment year. Under the circumstances, in view of the first proviso to section 147 of the Act, the Assessing Officer is required to record twin satisfaction, viz., that incom....