Law:

Section:

JUDGMENT Badar Durrez Ahmed, J. - The notice dated 30.03.2009 under Section 148 of the Income-tax Act, 1961 (hereinafter referred to as 'the said Act') and the order dated 23.11.2009 rejecting the objections filed by the assessee are the subject matter of challenge in this writ petition which pertains to the assessment year 2002-03. 2. The assessment under Section 143(3) was completed and the assessment order was passed on 04.03.2005. The notice under Section 148 of the said Act which, as mentioned above, was issued on 30.03.2009 has been issued after four years from the end of the relevant assessment year (assessment year 2002-03). That being the position, the first proviso to Section 147 of the said Act would be applicable. Section 147 and the first proviso thereto as well as Explanation 1 after the provisos read as under:- "147. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections 148 to 153, assess or reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section, or recompute the loss or the depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year) : Provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment for that assessment year. ** ** ** Explanation 1. - Production before the Assessing Officer of account books or other evidence from which…

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