IN THE HIGH COURT OF DELHI AT NEW DELHI 
 44. 
         ITA 1130/2010  
 . 
 CIT                                                             ..... 
 Appellant 
 Through:       Mrs. Suruchi Aggarwal, Adv. 
 . 
 versus 
 . 
 SHARP BUSINESS SYSTEM INDIA LTD      ..... Respondent 
 Through:       None 
 . 
 CORAM: 
 HON'BLE THE CHIEF JUSTICE 
 . 
 . 
 HON'BLE MR. JUSTICE MANMOHAN 
 . 
 O R D E R 
                               09.08.2010 
 . 
 Heard Mrs. Suruchi Aggarwal, learned counsel for the revenue on the 
 question of admission. 
 The present appeal has been preferred under Section 260A of the Income 
 Tax Act, 1961 questioning the legal propriety of the order dated 15.1.2010 
 passed by the Income Tax Appellate Tribunal, Delhi Bench ?G?, New Delhi (for 
 short ?the tribunal?) in ITA No. 2772/Del/2009 pertaining to assessment year 
 2001-02.  It is worth noting, the revenue has proposed the following substantial 
 questions of law: 
 ?i)       Whether ITAT could have held that the assessee has made a complete and 
 true disclosure of information especially in view of the fact that 
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 Income Tax Act does not recognize the term ?deferred revenue expenses? and was 
 excessive allowance of advertisement expenditure? 
 ii)       Whether showing deferred revenue expenses in the profit and loss 
 account and claiming excessive advertisement expenditure amounts to full and 
 true disclosure of facts and does not amount to furnishing inaccurate 
 particulars and falls under Section 148 of the Income Tax Act? 
 iii)       Whether the order of the ITAT is perverse as it has ignored the 
 relevant facts on record?? 
 . 
 To appreciate the substantial questions of law that have been sought to 
 be framed by this Court, we have perused the order passed by the authorities 
 below.  On a scrutiny of the order passed by the tribunal, it is perceptible 
 that the tribunal has analyzed the facts and has held that the assessee had 
 disclosed all the details relevant to its claim for advertisement expenses and 
 the assessing officer had investigated the said claim by raising a specific 
 query in the show cause notice that the assessee had replied to the query and 
 explained the nature of expenses and, hence, there was no default at the end of 
 the assessee to disclose all material facts fully truly for its assessment; that 
 the notice under Section 148 had been issued after expiry of four years 
 ITA 1130/2010 
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 from the end of the relevant assessment year and, therefore, the assessing 
 officer could not have proceeded after expiry of four years from the end of the 
 relevant year inasmuch as there was no material to come to hold that the income 
 chargeable to tax had escaped assessment for such assessment year by reason of 
 failure on the part of the assessee to disclose fully and truly all material 
 facts but, on the contrary, the assessee had disclosed all the facts that was 
 earlier appreciated by the assessing officer.  In our considered opinion, the 
 view expressed by the tribunal that the notice issued under Section 148 was 
 beyond the period of limitation is justified and, therefore, no substantial 
 question of law emerges for consideration in this appeal. 
 In the result, the appeal, being devoid of merit, stands dismissed in 
 limine. 
 . 
 CHIEF JUSTICE 
 . 
 . 
 MANMOHAN, J 
 AUGUST 09, 2010 
 pk 
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