- (1.) The present appeal is directed against a decision of the Tribunal sustaining the order of the Commissioner of Income Tax (Appeals) in favour of the assessee on the question of reopening of assessment under Section 147 of the Income Tax Act, 1961. The Assessing Officer had reopened the assessment pertaining to the assessment year 1996-97 on 28th March, 2003 on the ground that certain violations of the Customs Act in importing goods had come into light on the basis of proceedings initiated by the Directorate of Revenue Intelligence. The assessee went up in appeal before the Commissioner and was successful in having the proceeding under Section 147 of the Act invalidated on the ground of the same being time barred. The Commissioner did not find any of the exception clauses permitting the Revenue to proceed with the action beyond the stipulated four-year period, applicable in the case.
(2.) The Revenue was also unsuccessful in further appeal before the Tribunal. The Tribunal analysing the provisions and the factual basis of the case also referred to a proceeding under the similar provisions taken against one Ashwani Kumar More, who we are informed is a partner of the assessee firm, in which proceeding also the Revenue failed. The Tribunal in disposing of the appeal, relied on its own decision in ITA No.953/Kol/2005 dated 15th July, 2006.
(3.) Mr.Dutt, learned counsel appearing for the assessee has brought to our notice a decision of a Coordinate Bench delivered on 27th June, 2007 in ITA No.206 of 2007 by which the revenue's appeal against the Tribunal's decision dated 15th July, 2006 was dismissed.;