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2010 (2) TMI 797 - ITAT, BANGALOREIncome escaping assessment - Applicability of Section 147 - It is stated that subsequent to the passing of the assessment order the assessee received a notice u/s.263 on 13.3.1992 and on considering the assessee's objection to the notice u/s.263, proceedings were dropped by the CIT vide order dt.25.3.1991. - Subsequently, the Assessing Officer initiated reassessment proceedings u/s.147 by issue of notice u/s.148 dt.27.3.1991 on the ground that the income had escaped assessment. - Held that:- Assessing Officer has no jurisdiction to reopen an assessment u/s.147 so as to circumvent the order of the CIT which had become final unless and until the order was set aside by the process known to law. - Decided in favour of Asssessee.
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