De-Con Projects Pvt. Ltd. vs. Income Tax Officer, Ward 8(2), Kolkata

Parties Involved

Facts Summary

The assessee, De-Con Projects Pvt. Ltd., filed its return of income for the Assessment Year 2013-14, and the original assessment was completed under Section 143(3) of the Income Tax Act, 1961 on 28.03.2016. The reassessment proceedings were initiated on 30.03.2021 beyond 4 years from the end of the relevant assessment year by issuing notice under Section 148 of the Act. The assessee was dissatisfied with the order and appealed to the Commissioner of Income Tax (Appeals), which was dismissed. The assessee then appealed to the Income Tax Appellate Tribunal, raising multiple grounds, with the main grievance being that the reopening of the assessment beyond 4 years is not valid as there was no failure on the part of the assessee to disclose fully and truly all material facts during the original assessment proceedings.…

Legal Issues

• 1. Whether the reopening of the assessment beyond 4 years is valid?
• 2. Whether the reassessment based on the same material that was already available with the Assessing Officer during the original assessment year is permissible?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• Bhartiya Samruddhi Investments and Consulting Services Limited vs. ACIT, Circle 4(2), New Delhi

  Delhi bench

• Avishkar Nirman Private Ltd Vs ITO Ward-13(1), Kolkata

  Kolkata Bench benchAY 2013-2014Allowed

• Mohammed Hasseb Mohammed Hanif Khan vs. Income Tax Officer

  Mumbai bench

• Surender Singh vs ITO

  Delhi Bench benchAY 2011-12Allowed

• M/s. J.V. Industries Pvt. Ltd. vs. DCIT, Circle-13(1), Delhi

  Delhi Bench benchAY 2008-09Allowed

• JWC LOGISTICS PARK PRIVATE LIMITED Vs. ACIT CC 5(3)

  Mumbai bench