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2014 (1) TMI 953 - AT - Income TaxValidity of reopening of assessment u/s 147 of the Act – Reopening made to give effect to retrospective amendment u/s 115JB of the Act - Held that:- A perusal of the questionnaire issued by the AO to the assessee and the replies of the assessee demonstrate that the AO has examined the computation of book profits u/s. 115 JB of the Act - As on the date of completion of original assessment the legal position was in favour of the assessee as regards adjustment of provision for bad debts – thus, it can be safely presumed that the Assessing Officer had not suggested any adjustment to book profits u/s 115 JB on account of diminution in the value of an asset i.e. provision for bad debts – Relying upon CIT vs. HCL Comnet Systems and Services Ltd. [2008 (9) TMI 18 - SUPREME COURT] – the AO presumably has not made an adjustment u/s. 115 JB of the Act on the issue of provision for doubtful debts – the order of the CIT(A) for the reopening was on a mere change of opinion and hence is bad in law – Decided against revenue.
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