Gujarat High Court on section 147, read with section 148, o

Last updated: 14 November 2008

Court :
High Court

Brief :
Section 147, read with section 148, of the Income-tax Act, 1961 - Income escaping assessment - Non-disclosure of primary facts - Assessment years 1990-91 to 1992-93 and 1994-95 - Whether Assessing Officer recording reasons under section 148(2) and Assessing Officer issuing notice under section 148(1) has to be same person; successor Assessing Officer cannot issue notice under section 148 on basis of satisfaction recorded by predecessor Assessing Officer, because reason to believe that income liable to tax for assessment year has escaped assessment within meaning of section 147 has to be of Assessing Officer concerned, viz., Assessing Officer issuing notice under section 148 - Held, yes - Whether where assessee had disclosed fully or truly all material facts necessary for his assessment and while framing assessment of assessee under section 143(3), Assessing Officer had allowed assessee’s claim for deduction under sections 80HH and 80-I stating that assessee was a manufacturing concern, reopening of said assessment beyond period of four years from end of relevant assessment year merely on change of opinion was invalid under law - Held, yes

Citation :
Hynoup Food & Oil Industries Ltd. v. Assistant Commissioner of Income-tax