Dismissing the appeal of the revenue the Court held that , admittedly , there is no details given by AO as to which the fact or material was not disclosed by the assessee which lead to escape assessment . Merely referring a bald assertion that\u201d I have reason to believe that it is a failure of assessee part or not to add back the amount of Rs 58 , 94 437 \/ to the total income u\/s 40(a)(ia) of the Act\u201d\u00a0 is not sufficient to frame notice for re-opening concluded assessment beyond four years . Thus the notice (impugned notice u\/s 148 is bad in law ) and does not qualify a sustainable notice under scrutiny law , hence the legal ground raised by the asssee is allowed and the re -opening of assessment is delated as in valid . ( ITA No. 2365 \/Mum\/ 2013 dt 30 -03 2016 , AY. 2005-06) (ITA No 1679 of 2017 dt 23 -01 -2020) \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment \u2013 After the expiry of four years- No failure to disclose material facts which are necessary for assessment \u2013 Order of Tribunal is affirmed .[ S.14A, 40(a)(ia),115JB ,148,194J ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9417","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2rT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=9417"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9417\/revisions"}],"predecessor-version":[{"id":9418,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9417\/revisions\/9418"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=9417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=9417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=9417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}