Law:

Section:

Section 147, read with section 148, of the Income-tax Act, 1961 - Income escaping assessment - Non-disclosure of primary facts - Assessment years 1986-87 to 1989-90 and 1991-92 - Assessments for relevant years were completed under section 143(3) after detailed investigation and reliefs under sections 80HH, 80HHA and 80-I were granted for those years on basis of particulars furnished by assessee - Respondents issued notice for reopening of petitioners' assessment after expiry of 4 years period from end of assessment years to which they relate - In reasons recorded for reopening assessment, neither new materials had been set out so as to deny benefit under sections 80HH, 80HHA and 80-I, as granted to petitioners in original assessments nor any failure on part of assessee to disclose fully and truly all material facts required for assessments in question had been alleged - Whether since basic requirement for reopening of assessments beyond period of 4 years from end of relevant assessment years, viz., failure on part of assessee to disclose fully and truly all material facts, was not satisfied, impugned notices issued under section 148 were liable to be quashed and set aside - Held, yes FACTS The petitioners were engaged in the business of manufacturing and sale of bidis. The assessments for the relevant years were completed under section 143(3) after detailed investigation and relief claimed by the petitioners under sections 80HH, 80HHA and 80-I were granted on the basis of the particulars furnished by the petitioners. Subsequently, the Assessing Officer issued notices under section 148 for reopening of assessment for the relevant assessment years. On writ, the petitioners challenged the notices issued under section 148 and contended that none of the conditions contained in section 147 were satisfied and, therefore, the notices were bad and illegal. HELD Admittedly, the reopening had been ordered after the expiry of the period of 4 years from the end of the assessment years to which they related. The assessments for the relevant years were completed under section 143(3) after detailed investigation and the reliefs under sections 80HH, 80HHA and 80-I were granted…

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