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2014 (8) TMI 598 - HC - Income TaxReopening of assessment u/s 147 – Reopening at the instance of audit party - Held that:- The reassessment proceedings have been initiated at the instance of the audit party, the noting made and the relevant documents appears that the assessment is sought to be reopened at the instance of the audit party, solely on the ground of audit objections - as such, the AO tried to sustain his original assessment order and submitted to the audit party to drop the audit objections – Relying upon Mayur Wovens Pvt. Ltd. Versus Income Tax Officer & 1 [2014 (7) TMI 722 - GUJARAT HIGH COURT] - if the reassessment proceedings are initiated merely and solely at the instance of the audit party and when the AO tried to justify the Assessment Orders and requested the audit party to drop the objections and there was no independent application of mind by the AO with respect to subjective satisfaction for initiation of the reassessment proceedings, the reassessment proceedings cannot be sustained – reassessment proceedings set aside – Decided in favour of Assessee.
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