AROMA ORGANICS LIMITED,MUMBAI vs. ITO,WD- 14-(1)(2), MUMBAI

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ITA 3037/MUM/2018Status: DisposedITAT Mumbai01 February 2019AY 2008-0911 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the reopening was invalid because the AO failed to allege that the assessee had failed to disclose fully and truly all material facts necessary for the assessment. Therefore, the proviso to Section 147 was applicable, and the reassessment order was quashed.

What were the facts?

The Assessing Officer (AO) reopened the assessment for AY 2008-09 after four years from the end of the relevant assessment year. The original assessment was completed under Section 143(3). The AO issued a notice under Section 148, alleging that prior period depreciation was wrongly reduced from net profit, leading to escaped income.

What were the issues?

Whether the reopening of assessment under Section 147 was valid when the notice under Section 148 was issued after four years and the AO did not allege failure on the part of the assessee to disclose material facts.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 143(3),Section 115JB

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, MUMBAI BENCHES “SMC”, MUMBAI

Before: SHRI A.K. GARODIA

For Appellant: Shri Sekhar Gupta, AR
For Respondent: Shri Vijay Kumar Soni, DR

आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent 3. आयकर आयु�त(अपील) / The CIT(A), Mumbai 4. आयकर आयु�त / CIT, Mumbai 5. �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण, मुंबई / DR, ITAT, Mumbai 6. गाड� फाईल / Guard file

आदेशानुसार/ BY ORDER, स�या�पत ��त //True Copy//

उप/सहायक पंजीकार (Dy./Asst. Registrar) आयकर अपील�य अ�धकरण, मुंबई / ITAT, Mumbai

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