2022 (1) TMI 434

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....e said Act. 2. This is a case where the notice has been issued after the expiry of four years from the relevant assessment year and as the assessment under section 143(3) of the Act has also been completed, proviso to section 147 of the Act shall apply. Under section 147, there is a bar in re-opening the assessment after the expiry of four years where assessment under section 143(3) of the Act has been completed unless there has been failure on the part of petitioner to truly and fully disclose all material facts required for assessment. The onus is on the respondents to prove that there was such failure on the part of petitioner. 3. We have considered the reasons recorded for re-opening and there is a failure on the part of responden....

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....o confer jurisdiction to reopen the assessment. For this view of the Assessing Officer, that for issuing notice to reopen assessment, the Assessing Officer must only be satisfied that he had reasons to believe that income, profits and gains chargeable to income tax has escaped assessment and the second condition that such escapement has occurred by reason of either omission or failure on the part of the assessee to disclose fully or truly all material facts necessary for his assessment is not required, Mr. Suresh Kumar in fairness agreed that that view of the Assessing Officer was incorrect. Mr. Suresh Kumar, as an Officer of the Court, agreed that both these are preconditions which are required to be fulfilled when assessment is sought to ....

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....r words, if the basic jurisdictional facts required for reopening of an assessment under section 147 of the Act do not exist it would not be competent for the Assessing Officer to issue a notice under Section 148. Even where the jurisdictional facts prescribed under Section 147 exist and all conditions laid down under Section 147 and the proviso thereto are satisfied, the notice under Section 148 can be issued only after the Assessing Officer has recorded his reasons for doing so under Sub-section (2) of Section 148 and has further obtained the necessary sanction for issuance of the notice as required under Section 151 of the Act. ..... The restriction ........ of a period of four years, ....... In the present case, the reasons whi....