* 1 * ITXAL.2247.2010 30.6.2011 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL [LODG] NO. 2247 OF 2010 The Commissioner of Income Tax-III, Pune .... Appellant V/S. Serum Institute of India Ltd .... Respondent Mr. Vimal Gupta, Advocate for the appellant. Mr. Mihir Naniwala, Advocate for the respondent. CORAM :- J.P. DEVADHAR & SMT. R.P. SONDURBALDOTA, JJ. 30 June 2011. P.C. :- 1. Heard. 2. Whether the ITAT was justified in cancelling the reassessment made under Section 147 of the Income Tax Act on the ground that the reopening of the assessment beyond four years from the end of the relevant assessment year was bad in law, is the question raised in this appeal. 3. The ITAT in paragraph-6 of its order, has recorded a finding of fact that there was no failure on the part of the assessee to disclose fully and truly all material facts and the reopening of the assessment based on insertion of sub-section 9A of Section 80-IA of the Finance Act, 1998 * 2 * ITXAL.2247.2010 30.6.2011 with effect from 1st April, 1999 would not be applicable to the facts of the present case and in any event, that cannot be a ground to hold that there was failure on the part of the assessee to disclose fully and truly all material facts necessary for the purpose of assessment. In this view of the matter, we see no merit in the Appeal. Hence, the Appeal is dismissed. [SMT. R.P. SONDURBALDOTA, J] [J.P. DEVADHAR, J]