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2014 (7) TMI 1037 - AT - Income TaxReopening of assessment u/s 147 r.w section 148 Computation of book profit u/s 115JB Held that:- The assessee returned an income which was accepted u/s 143(3) subsequently notice u/s 148 was issued on 31.03.2011 after recording of reasons wherein the book profit u/s 115JB was re-computed and it was held as deemed to be a taxable income of the assessee company - the order is challenged not only for want of approval of the CIT(A) but also on various other grounds which was specifically made clear in the letter relied upon before the CIT(A) - In the light of these facts and the submissions of the parties before the Bench considering the material available on record, it would be appropriate in the peculiar facts of the case to restore the issue back to the CIT(A) as the assessee had not withdrawn the ground raised and had only withdrawn one specific argument assailing the validity of the proceeding - Since the Jurisdictional issue is to be first decided and only thereafter the appeal on merits can be decided the matter remitted back for fresh adjudication Decided in favour of assessee.
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