2019 (10) TMI 474

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.... ORDER P.C. 1. This appeal under Section 260A of the Income Tax Act, 1961 (Act) challenges the order dated 21st July, 2016 passed by the Income Tax Appellate Tribunal (Tribunal). This appeal relates to Assessment Year 2006-07. 2. The Revenue has urged the following questions of law for our consideration :- "(a) Whether on the facts and in the circumstances of the case and in law....

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....of Rs. 9.95 crores. On 23rd December, 2009 the assessment was completed in scrutiny assessment proceedings under Section 143(3) of the Act. (b) Thereafter, on 23rd March, 2013 reopening notice was issued under Section 148 of the Act seeking to reopen of the assessment for A.Y. 2006-07. The reasons in support of the reopening notice dated 22nd March, 2013 records the fact that the respondent in ....

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....pening notice and taxed the income. In appeal, the Commissioner of Income Tax (Appeals) [CIT(A)] by order dated 21st July,l 2016 rendered a finding of fact that there was no failure on the part of the respondent assessee to disclose truly and fully all facts necessary for the assessment. It held that as the reopening notice was beyond a period of four years from the end of the relevant assessment ....

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....have found on facts that there was no failure on the part of the respondent assessee to disclose all facts truly and fully as necessary for the assessment. In fact, that is evident from the reasons recorded in the reopening notice dated 22nd March, 2013. In fact, the reasons recorded in support of the reopening notice dated 23rd March, 2013 even does not allege that there is any failure on the par....