2007 (9) TMI 212

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.... I. T. A. Nos. 1710 to 1713/D/D/2004. Appeal No. 70/2007 pertaining to the assessment year 1992-93 has been filed against the judgment dated November 2, 2006, of the Income-tax Appeal late Tribunal passed in I. T. A. No. 1577/Del of 2004 and Appeal No. 37/ 2007 pertaining to the assessment year 1993-94 has been preferred against the judgment dated March 9, 2006, of the Income-tax Appellate Tribunal passed in I. T. A. No. 1399(Del) 03. Vide the impugned judgment the Income-tax Appellate Tribunal has confirmed the order the Commissioner of Income-tax (Appeals) and dismissed the grounds taken by the Revenue. 2. Since these appeals are based on common set of facts involving common question of law, therefore, they are being decided by one and....

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....dering the assessee's submissions submitted in response to notice under section 143(2) completed the assessments on the same income as was assessed under section 143(3)/154 for the assessment years 1991-92, 1993-94 and 1994-95 and under section 143(3) for the assessment year 1995-96. However, he charged tax at the rate of 65 per cent. for the assessment years 1991-92, 1993-94 and 1994-95 and at the rate of 55 percent. for the assessment year 1995-96. 5. Appeals preferred against the order of the Assessing Officer were allowed by the Commissioner of Income-tax (Appeals) by holding that the conditions prescribed in the proviso to section 147 were not fulfilled by the Assessing Officer for initiating the proceedings under section 147/148 of....

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....riginal assessment order was time-barred. We agree with the view taken by the Income-tax Appellate Tribunal. 10. Learned counsel for the Revenue vehemently argued that the limitation provided under the proviso is attracted in case of failure on the part of the assessee and the reassessment is required on that failure then limitation is only of four years, otherwise excluding the proviso there is no limitation for reopening of the assessment where such income has escaped assessment made at too low a rate. In other words, the submission of the Assistant Solicitor General is that reopening of assessment on account of failure on the part of the assessee is open only for reassessment within four years. 11. It is settled law that the provis....