Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (2) TMI 524 - GUJARAT HIGH COURTRe-opening of assessment u/s.147 – Reassessment of assessment previously framed after scrutiny - Entire issue of deduction under Section 80I was examined threadbare by the AO while framing original assessment – Issue is that such reopening is permissible or not – Held that:- Issues on which the reopening has been done are not touched upon in the original proceedings. In the original proceedings only the prior period expenses were considered and adjusted. Therefore there cannot be case of change of opinion as to whether head office expenses were properly and reasonably allocated to Baroda Unit or not. Explanation 2 of Section 147, as amended with effect from 01-04-1989, provides that if allowances under this act have been computed excessively, then it will be the case of deemed escapement assessment - Assessee for A.Y.1992-93 has escaped assessment, therefore notice u/s.148 is issued for re-assessment of income of the assessee – From the perusal of the records, reopening was valid reopening within 4 years - Since it is not a case of change of opinion and deduction under section 80I has not been correctly computed - Reopening of the assessment is justified– Appeal filed by the assessee dismissed - Against the assessee.
|