2019 (2) TMI 539

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....pathi i/by Raj Darak for the Respondent   P.C.: 1. Revenue is in the appeal against the judgment of the Income Tax Appellate Tribunal ("the Tribunal" for short) dated 23.9.2015 raising following question of law for our consideration:- "Whether on the facts and in the circumstances of the case and in law, the Tribunal has erred in quashing the proceedings under Section 147 of the I.T.....

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....ent, the Assessing Officer had issued the impugned notice. In the reasons recorded for issuing the notice, he had referred to the investigation carried out by the Customs Department on the components imported by the assessee through M/s. Eastern Peripherals for SCADA alleging that no duty was paid. He noticed that the said M/s. Eastern Peripherals had thereupon filed declaration under Kar Vivad Sa....

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....y paid on imports of SCADA was examined by the Assessing Officer in the original assessment proceedings. Despite this, if the Assessing Officer was in possession of information then not available to him, sufficient to enable him to form a belief that income chargeable to tax had escaped assessment, reopening of assessment that too beyond the period of four years could still be resorted to. In the ....