The Commissioner Of Income Tax – 12, Mumbai v. M/S.rama Exports

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1489 OF 2011 The Commissioner of Income Tax – 12, Mumbai..Appellant. Versus M/s.Rama Exports ..Respondent. Mr.P.C. Chhotaray with Ms.P.S. Cardozo for the appellant.None for the respondent. CORAM : J.P. Devadhar &M.S. Sanklecha, JJ. DATE : 30[th] January 2013 P.C. : 1.In this appeal by the Revenue for assessment year 2000-2001, the basic dispute is whether the assessment can be re-opened under Section 147/148 of the Income Tax Act, 1961 beyond a period of four years from the end of relevant assessment year in view of retrospective amendment of the law ? 2.The Tribunal while upholding the order of the Commissioner of Income Tax (A) held that insertion of new provision of law would not constitute information justifying re-assessment. For the aforesaid proposition, reliance was placed upon the decision of this Court in the matter of Commissioner of Income Tax V/s. Empire Industries Limited reported in 210 ITR 267 (Bom). Further, our Court in the matter of Voltas Limited V/s. Assistant Commissioner of Income Tax reported in (2012) 349 ITR 656 (Bom) has held that a retrospective amendment of law may indicate that income has escaped assessment but cannot meet the other requirement viz. failure to disclose fully and truly all material facts necessary for assessment. 3.Since the decision of the Tribunal is based on the decision of this Court, we see no reason to entertain the present appeal. The appeal is accordingly dismissed with no order as to costs. (M.S. Sanklecha, J.) (J.P. Devadhar, J.)