ACIT v. West Bengal Agro Industries Corporation Ltd. (2022)97 ITR 33 (SN) (Kol) (Trib)

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Reassessment order is invalid. [S. 148]

The Tribunal held that the reopening of the assessment under section 147 without any reference to failure on the part of the assessee to disclose all facts regarding the items in the return of income or books of account during the assessment proceeding, was in violation of the proviso to section 147 of the Act and invalid. (AY.2011-12 to 2013-14)