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2013 (12) TMI 445 - AT - Income TaxValidity of assessment u/s 143(3) - Held that:- The notice under S.143(2) was served more than 12 months after the month of filing of the return - Following Kuber Tobacco Products (P) Ltd. V/s Dy. CIT [2009 (1) TMI 304 - ITAT DELHI] - As per the amendment brought by the Finance Act, 2008 w.e.f. 1.4.2008 - Insertion of S.292BB has taken away the right of the assessee to challenge the validity of assessment or reassessment proceedings during the course of appellate proceedings. Disallowance of depreciation - Held that:- The business of the assessee was not yet set up by the end of the previous year relevant to the assessment year under consideration - This is the factual finding given by the CIT(A), against which no contrary evidence is produced before the Tribunal. Reopening of assessment u/s 147 - Held that:- In view of proviso to Explanation 3 to S.147 inserted by the Finance (No.2) Act, 2009, with effect from 1.4.1989 - The AO can go into other aspects which have not been recorded in the reasons for reopening the assessment and which only came to notice during the reassessment proceedings - The provision is applicable to all the pending proceedings. Preliminary expenses - Salaries, travelling and office maintenance expenses - Held that:- Following Pohoomal Bros V/s. CIT [1958 (3) TMI 55 - BOMBAY HIGH COURT] - The expenditure to be allowable should have been incurred for the business being carried on - The assessee was yet to commence the business, the expenditure claimed is not allowable - The CIT(A) directed the AO to consider the amortization of the expenses claimed under S.35B of the Act as preliminary expenses - Decided against assessee.
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