Badar Durrez Ahmed, J. (Oral)

1. The petitioner has challenged the reopening of assessment in respect of the assessment year 2005-06, which was initiated by virtue of a notice under Section 148 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) on 26.03.2012. The point of challenge raised by the petitioner is that the reopening of assessment was sought to be done after a period of four years, therefore, the conditions stipulated in the proviso to Section 147 of the Act would have to be complied with. One of the conditions was that a reopening could not be done until and unless there was failure on the part of the assessee to make a full and true disclosure of all material facts which were necessary for the assessment. It was contended by the learned counsel for the petitioner that in the present case, this pre-condition was not satisfied inasmuch as (a) there is no mention or allegation that there was no full and true disclosure on the part of the assessee in the purported reasons behind the reopening of the assessment in respect of assessment year 2005-06; and (b) in fact there was a full and true disclosure on the part of the assessee and even no infere