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2017 (11) TMI 1710 - BOMBAY HIGH COURTRevision u/s 263 - no business activity - Held that:- Appellate Tribunal while noting the facts has noted that in the scrutiny assessment under subsection (3) of Section 143 for the year 2006-2007 it was accepted that the respondent – assessee has not carried out any business activity and the business expenditure claimed in that year was disallowed. We may note here that in the order dated 21st December, 2010 passed by the Assessing Officer which was reviewed it is specifically recorded that no business activity has been undertaken by the assessee during the relevant year. Assessing Officer while passing an order under subsection (3) of Section 143 in respect of Assessment Year 2006-2007 has examined the issue regarding allotment of plot by MIDC. Considering the fact that the order under subsection (3) of Section 143 for the Assessment Year 2006-2007 has become final, in paragraph 9.1 of the impugned order, the Appellate Tribunal has observed that the AO adopted one of the two courses permissible in law. Therefore, it was held that the order was not erroneous - no substantial question of law
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