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2012 (4) TMI 474 - HC - Income TaxExercise of jurisdiction by the Assessing Officer under Section 147/148 - deduction under Section 33AC and deduction under Section 80IA of the Act - The tribunal has held that the aforesaid reasons to believe do not justify reopening and satisfy the requirements under Section 147/148 of the Act. - Held that :- Re-assessment proceedings were initiated by the Revenue, inter alia, stating that income had escaped assessment in respect of so many items. Additions were made on account of as many as six heads - The order passed by the tribunal is cryptic and does not deal with the contentions and the issues raised with reference to the reopening under Section 147 of the Act - the tribunal has not examined and dealt with the said aspect as mandated and required - accept the appeal by the Revenue and pass an order of remand directing the tribunal to decide the issue afresh
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