Case Law Details
Brief of the Case
ITAT Mumbai held In the case of M/s. Golden Tobacco Limited (Formerly GTC Industries Limited) vs. The JCIT that the law does not give powers to the AO to reopen an assessment carried out u/s 143(3) after the expiry of four years unless the AO is able to demonstrate that there was failure on the part of the assessee in disclosure of material facts. Even in those cases, where there was a retrospective amendment in the law, no reopening can be done after the expiry of four years unless there was failure on the part of the assessee in disclosure of material facts. In the given case, the AO has nowhere mentioned about any failure on the part of the assessee in disclosure of material facts. Rather what has been mentioned in the reasons is about the omission or mistake committed by the AO himself.
Facts of the Case
Original assessment proceedings were done u/s 143(3) vide order dated 28.12.2007 determining the total income at nil, after set off of brought forward business loss of Rs.7,82,88,126 and brought forward unabsorbed depreciation of Rs.63,64,593. Subsequently, the Assessing Officer issued notice u/s 148 dated 31.3.2011. In response to the same, the assessee-company filed its return of income and asked for the Reasons for reopening of the assessment, which was furnished by the AO to the assessee. The assessee has challenged the aforesaid `Reasons’ on two counts, i.e., One – there is no fresh material coming into the possession of the AO at the time of recording of the reasons, and Two – the reopening has been done after expiry of four years from the end of the assessment year; and there is no allegation in the `Reasons’ about failure on the part of the assessee in disclosure of material facts.
Contention of the Assessee
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Dear Sir,
Pl advice
Swachh Bharat Cess in case of service tax liability is under Reverse Charge Mechanism
Sr. No. Invoice of vendor dated Payment made to vendor Applicable Rate of Service Tax
1 After 15th August After 15th November ?