TaxTMI 
TaxTMI 
2025 (2) TMI 582
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....espondent No. 1 for the assessment year 2014-15. 4. The reasons for re-opening were furnished to the petitioner on 25 November 2011 and the same reads as under :- 5. Ms. Vissanji, learned counsel for the petitioner submits that the impugned notice is issued after a period of 4 years from the end of the relevant assessment year and in the absence of any allegation of any failure to disclose fully and truly all material facts necessary for the assessment, impugned notice is barred by the first proviso to Section 147 of the Act. She further submits that the issue for which the re-opening is sought was raised in the course of the assessment proceedings and a reply was filed by the petitioner and same was considered in the assessment order. Th....
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....t of the assessee to disclose fully and truly all material facts necessary for the assessment. The co-ordinate bench of this Court in the case of Hindustan Unilever Limited (Supra) has held that there has to be not only the allegation that there is a failure on the part of the assessee to disclose fully and truly all material facts but the reasons should also state what are the material facts which were not disclosed. On a perusal of the reasons recorded in the present case, we do not find any allegation of any failure to disclosure fully and truly of material facts necessary in the assessment. But on the contrary on a perusal of the reasons recorded, it shows that the information on the basis of which re-opening is sought was based on the ....