TaxTMI 
TaxTMI 
2015 (10) TMI 2617
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....ssment. 2. Briefly the facts are, the assessee, for the impugned assessment year, filed its return of income on 30th October 2004, declaring nil income. As it appears, assessment in the case of the assessee was completed under section 143(3) of the Act on 28th December 2006, determining the total income of Rs. 46,57,130, by disallowing assessee's claim of exemption under section 11 of the Act. Subsequently, the assessment in the case of assessee was re-opened after expiry of a period of four years from the end of the relevant assessment year, on the reason that assessee has contravened the provisions of section 13(1)(c), 13(3) and section 11(4), as a result of which capital expenditure of Rs. 29,51,353, has to be disallowed. Re-assessment ....
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....context of facts and material on record, annulled the assessment by holding the initiation of proceedings under section 147 to be invalid observing as under:- "I have duly considered the submission of the appellant's AR and I find that the AO is not justified in reopening the assessment without considering the CIT(A)'s order dtd. 23.01.2008, wherein the CIT(A) has allowed exemption u/s.11 and deleted the additions made by the AO. The department has not filed 2nd appeal before the I.T.A.T. as such the decision of CIT(A) has become final. The AO is not empowered to reopen the same assessment after expiry of four years without pointing out any failure on the part of the appellant to show that any information which is essential for co....
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....e parties and perused the material available on record. There is no dispute to the fact that in the present case, the assessment in case of assessee was originally completed under section 143(3) of the Act. Therefore, the proviso to section 147 applies. There is also no dispute to the fact that re-opening of assessment under section 147 of the Act was done after expiry of four years from the end of relevant assessment year. Therefore, the condition precedent for re-opening of assessment as per proviso to section 147 is, there must be failure on the part of the assessee to disclose fully and truly all material facts relating to his assessment. On a perusal of the reasons recorded for re-opening, we do not find any such allegation made by th....