2019 (7) TMI 806

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.... ORDER (PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) 1 This Tax Appeal under Section 260A of the Income Tax Act, 1961 [for short, "the Act, 1961"] is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Rajkot Bench, Rajkot dated 26th November 2018 in the ITA No.74/RJT/2013 for the assessment year 2005-06. 2 The Revenue has proposed t....

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....egarding assessment order framed u/s. 143(3) of the Act, beyond four years, it is required from the AO to record clear finding that the income chargeable to tax has escapement assessment for such assessment year by reason of the failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment for that assessment year otherwise reopening of assessment ....

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....uding impugned reassessment." 4 Thus, the finding of fact recorded by the Tribunal is to the effect that the initiation of reassessment proceedings under Section 143(3) of the Act had been made beyond the period of four years by issuing notice under Section 148 of the Act without any allegation that the income chargeable to tax had escaped assessment for such assessment year by reason of the fa....