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2013 (11) TMI 923 - AT - Income TaxNotice u/s 148 - Objection on reassessment - Held that:- the objections sought to be raised by the assessee are a valuable right, which, if denied, may render the entire reassessment process invalid. Conversely, we hold that in case, it is found from the cogent evidence that the assessee was very well aware of its right to raise objections since the very beginning and it had not preferred to exercise the same, it is not entitled to seek leave for challenging the legality of reopening and more so, in the second appeal before us. Hence, we are of the view that the petition dated 04.05.2012 preferred by the assessee does not deserve acceptance. Accordingly, it is rejected. - Decided against the assessee.
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