Reopening of assessment unjustified as no failure to disclose full and true material facts

Jaguar and Company Pvt Ltd Vs DCIT (ITAT Delhi) ITAT Delhi held that reopening of assessment under section 147 of the Income Tax Act unjustified in absence of failure on the part of the assessee to disclose fully and truly all the material facts. Facts- The assessee vide the present appeal has mainly contested reopening of the impugned assessment and passing the impugned order u/s 147, in as much as, the statutory conditions as stipulated u/s 147 to 151 have not been complied with. Conclusion- Held that it can be safely concluded that merely by adding a line in the reasons recorded by the Asse...