Case Law Details
It is not in dispute that the petitioner had placed all the relevant records, including the construction agreement, before the passing of the original assessment order. Further, it is not the case of the respondent that the petitioner had suppressed certain material facts, due to which the original assessment order, passed by the respondent is liable to be re-assessed.
In such circumstances, in the absence of the failure on the part of the petitioner to disclose fully and truly all material facts necessary for the assessment year under consideration, the assumption of jurisdiction, by the respondent, under Section 147 of the Income Tax Act, 1961, after the expiry of four years, from the end of the relevant assessment year, is illegal and invalid. Accordingly, the proceedings, under Section 147 of the Act, which had been initiated by the issuance of the impugned notice, under Section 148 of the Act, cannot be sustained. As such, this Court finds it appropriate to allow the writ petition. Accordingly, the writ petition stands allowed. Consequently, connected miscellaneous petition is closed.
HIGH COURT OF MADRAS
Doshi Housing Ltd.
v.
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