COMMISSIONER OF INCOME TAX Vs. MICRO INKS LTD.

JUDGEMENT

(1.) REVENUE is in appeal against the judgment of the Income Tax Appellate Tribunal ("the Tribunal" for short) dated 27.4.2012 raising following questions for our consideration:

(2.) FOR the assessment year 2000 -2001 and 2001 -2002, the assessee had made various claims including for deduction under section 80HHC and 80IA of the Act. Such returns were scrutinised and assessment orders were passed under section 143(3) of the Act at the relevant time. Subsequently, the Assessing Officer issued notices under section 148 of the Act on 6.3.2007 seeking to reopen the assessments for both the years on the ground that as per section 80IA(9) read with section 80IB(13) of the Act. Assessee opposed the proceedings on the ground that in absence of any failure on part of the assessee to disclose truly and fully all material facts, reopening would not be permissible beyond period of four years from the end of relevant assessment year. The Assessing Officer rejected the objection and proceeded to frame fresh assessment.

(3.) SURELY , this can hardly be a ground to support a notice for reopening beyond a period of four years. Particularly, in absence of any failure on part of the assessee to disclose truly and fully material facts, the CIT (Appeals) proceeded to quash the assessment years.