- (1.) IN this writ petition under Articles 226 and 227 of the Constitution of India, the petitioner has challenged the notice issued by the ITO dated 30th January, 1970, copy of which is annex. D with the writ petition, on various grounds. It has been averred in the petition that for the accounting year relevant to the assessment year 1961-62, a return was filed by the petitioner under Section 139 of the I. T. Act, 1961 (hereinafter referred to as "the Act"), and the assessment proceedings were completed after due investigation. The impugned notice has now been issued which, according to the petitioner, is without jurisdiction.
(2.) THE learned counsel for the petitioner contended that in law if the assessment has been completed on the basis of the facts mentioned in the return and the same was accepted after investigation, then subsequently it is not open to the ITO to initiate proceedings under Section 147 (a) of the Act as, according to the learned counsel, the assessee having disclosed the material facts and the said facts having been found to be correct after due investigation, cannot be held to be guilty of having omitted to disclose fully and truly the material facts necessary for the assessment for that year. This legal question has been examined by us in C. W. P. No. 3671 of 1971--Kirpa Ram Ramji Dass v. ITO, [1982] 135 ITR 68 (P and H) decided on November 20, 1979--and we have repelled this contention.
(3.) FOR the reasons recorded in C. W. P. No. 3671, we are unable to agree with the learned counsel so far as this contention is concerned.;