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2014 (9) TMI 1112 - ITAT JODHPURReopening of assessment - reassessment proceedings initiated on the basis of the audit objection - non application of independent mind by AO - Held that:- The original assessment was framed u/s. 143(3) of the Act all the material was available on the record and the Assessing Officer applied his mind by making a deep scrutiny while framing the assessment u/s. 143(3) of the Act. The reassessment proceedings were initiated on the basis of the audit objection which cannot form the basis for the Assessing Officer to reopen the closed assessment. Thus the notice issued by the Assessing Officer on the basis of the audit party was not valid and accordingly, reassessment framed u/s. 147 read with sec. 143(3), on the basis of the aforesaid notice issued u/s. 148 of the Act is quashed. - Decided in favour of assessee.
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