Lapse or error on the part of the AO to apply legal provisions/section cannot be attributed and regarded as a failure on the part of the assessee to make full and true disclosure of the material facts in the original assessment proceedings — as held by DelHC in Atma Ram Properties Private Limited v DCIT — In favour of: The assessee.
Where on account of delay and limitation, the remedial action cannot be taken by the revenue under the applicable provision of the Income-tax Act, the revenue was not justified in resorting to the provisions of s 147.
Decided on: 11 November 2011.
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