Dismissing the petition the Court held that unless supporting documents were produced, it could not be said that there was full disclosure. The enclosures filed before the Assessing Officer at the time of section 143(3) assessment did not indicate this. Therefore, it could not be said that there was true and full disclosure of all materials that were required for assessment before the Assessing Officer by the assessee. The notice of reassessment was valid. (AY. 2011-12, 2013-14)
Durr India Pvt. Ltd. v. ACIT (OSD) (2021) 433 ITR 48 (Mad.)(HC)
S. 147 : Reassessment-After the expiry of four years-Method of accounting-Contractor-Percentage completion of method-Mere claim is not sufficient-Documents to support the claim was not submitted-Notice is held to be valid. [S. 148, Art. 226]