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2010 (11) TMI 64 - HC - Income TaxAssessee claimed dividend income as exempt - AO reopened the assessment under Section 147/148 of the Act - AO stated that income for which exemption was claimed by the assessee, proportionate expenses should have been disallowed under Section 14A of the Act - Proviso to section 14A - Provided that nothing contained in this Section shall empower the A.O. either to reassess under Section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under Section 154 for any assessment year beginning on or before the 1st April, 2001 - Held that: - not permissible for the AO to issue such a notice - appeal is accordingly dismissed
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