2019 (10) TMI 1290

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....2015 and it was served upon the assessee. In response to which assessee inter-alia submitted that the original return of income filed by the assessee for A.Y. 2009-10 be considered as return of income in response to notice u/s 148 of the Act. Thereafter, the case of the assessee was taken up for scrutiny and assessment was framed u/s 147 r.w.s 143 of the Act vide order dated 09.02.2016 and the total income was determined at Rs. 14,23,530/-. Aggrieved by the order of AO, assessee carried the matter before Ld.CIT(A), who vide order dated (in appeal No.PN/CIT(A)-8/ITO Wd.7(3)/413/18-19) dismissed the appeal of the assessee. Aggrieved by the order of Ld.CIT(A), assessee is now in appeal and has raised the following grounds : "1. The reassessm....

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....nbsp; Rs. 15,76,320/-. He pointed to the copy of the assessment order placed at Pages 6 to 9 of the Paper Book. He submitted that subsequently, notice u/s 148 of the Act was issued to the assessee. He pointing to the copy of the reasons which are placed at Pages 10 and 11 pointed to the fact that the case has been re-opened for verification of the cash and cheque deposits in the bank account. He submitted that admittedly, notice u/s 148 of the Act was issued beyond a period of four years and when the assessment is sought to be re-opened beyond a period of 4 years, then an additional condition needs to be satisfied namely that there must be failure on the part of the assessee to fully and truly disclose all material facts necessary for asses....

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....ent on satisfaction of the following: (a) The Assessing Officer must have reason to believe that (b) Income chargeable to tax has escaped the assessment and (c) In cases where the assessment sought to be reopened is beyond the period of four years from the end of the relevant assessment year, then an additional condition is to be satisfied viz: there must be failure on the part of the Assessee to fully and truly disclose all material facts necessary for assessment. 5. In the present case, notice u/s 148 of the Act has been issued on 27.03.2015 in relation to A.Y. 2009-10. Hence, the re-opening of assessment is beyond the period of four years from the end of relevant assessment year. In such a scenario, as per the 1st proviso to Sec.147 of ....