CIT v. Foramer France

Muktha Infrastructure (P) Ltd, Chennai vs. ITO, Corporate Ward -4(1), Chennai

In the result, the appeal filed by the assessee is allowed

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.361/Chny/2018 िनधा"रण वष"/Assessment Year:2010-11 M/S. Muktha Infrastructure (P) Ltd., The Income Tax Officer, 4/318, Marg Axis, Rajiv Gandhi Salai, Vs. Corporate Ward 4(1), Kottivakkam, Chennai 600 041. Chennai. [Pan: Aafcm0703Q] (अपीलाथ" /Appellant) (""थ"/Respondent) Shri D. Anand, Advocate अपीलाथ" की ओर से / Appellant By : ""थ" की ओर से/Respondent By : Ms. Vijayaprabha, Jcit सुनवाई की तारीख/ Date Of Hearing : 02.08.2018 घोषणा की तारीख /Date Of Pronouncement : 15.10.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 8, Chennai Dated 06.11.2017 Relevant To The Assessment Year 2010-11. The Ground Raised By The Assessee Is That The Ld. Cit(A) Has Erred In Upholding The Reopening Of Assessment Under Section 147 Of The Income Tax Act, 1961 [“Act” In Short] & Also Confirming The Addition Of ₹.3,10,33,094/- Under Section 115Jb Of The Act.

…n disclosing material facts necessary for completion of assessment, the reassessment made under section 147 of the Act beyond four years from the end of the relevant assessment year is bad in law. The Hon’ble Supreme Court in the case of CIT v Foramer France [264 ITR 566] affirmed the decision of the Hon’ble Allahabad High Court in the case of CIT v. Foramer France [247 ITR 436], wherein the Hon’ble High Court held that when there was no failure on the part of the assessee to disclose fully and truly all material facts for assessment, the assessment cannot be reopened under section 147 of the Act and is barred by…