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2013 (7) TMI 140 - HC - Income TaxIncome escaping assessment u/s 147 - Validity of notice of re-opening - Held that:- Any notice of the reopening issued under Section 148 would be required to be tested at the touchstone of the reasons recorded by the Assessing Officer, as could be noticed from the record itself, the very basis on which the revenue has sought to reopen the assessment is not found cannot be sustainable - Correct to say from the reasons recorded by the Assessing Officer alone that these proceedings under Section 147 and the notice issued under Section 148 cannot be permitted to be sustained - Tribunal having annulled the proceedings of the reassessment had rightly chosen not to enter into any further questions proposed before it - Decided in favour of assessee.
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