Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2009 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (8) TMI 58 - DELHI HIGH COURTRe-assessment u/s 147 – Issue of Notice u/s 148 – Earlier AO allowed the deduction u/s 80IA during assessment u/s 143(3) – Held that - The law is well settled that the proceedings under Section 147/148 cannot be initiated merely because there is a change of opinion and there are no new facts for justifying the initiation of reassessment proceedings. - According to the Assessing Officer, the activity carried on by the assessee is not a manufacturing activity. - This very issue was duly considered and the assessee furnished detailed note as also its letter dated 10.12.2002 and 24.3.2003 justifying the allowability of deduction under Section 80IA and which was duly allowed by an order passed under Section 143(3) of the Act, it is clear that there is no basis for initiating proceedings under Section 147/148. – writ petition allowed – notice u/s 148 and assessment order u/s 147 quashed.
|