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2014 (7) TMI 960 - AT - Income TaxValidity of reopening of assessment u/s 147 - Reason to believe – Held that:- The assessee relied upon various judgments, but, none of the judgments cited is rendering any help to the assessee - the issue on merit is admittedly covered against the assessee and thus it goes to show that the belief formed by the AO ssessing Officer regarding escapement of income is real and on the basis of tangible material –there was no reason to interfere in the order of CIT(A) – Decided against Assessee. Deduction u/s 80IB – Held that:- while deciding the appeal of the assessee it has been held that the assessee is not eligible for deduction u/s 80IB of the Act - the assessee is not eligible for such deduction u/s 80IB – Decided against Revenue.
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