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2015 (1) TMI 915 - AT - Income TaxCIT(A)jurisdiction to complete assessment - notice u/s.143(2) issued was barred by limitation of time - addition made while computing the income u/s.115JB of the Income Tax Act (Act) - Held that:- As rightly pointed out by the Ld.CIT(A), the Assessing Officer did record ‘reasons to believe’ and initiated proceedings much before the amendment to the Act was carried out subsequently. However, since assessee has asked for the reasons subsequently after a year, Assessing Officer instead of communicating the exact reasons as recorded by the Assessing Officer in the order sheet, communicated in his own way relying on the retrospective amendment. Consequently, assessee has objected to the re-opening before the Ld.CIT(A). Since Ld.CIT(A) clarified on the issue of exact noting in the order sheet, we are of the opinion that the objections raised by assessee that assessment was re-opened on non-existent amendment, raised on Ground No.1(a) and change of opinion in Ground No.1(b) does not survive. Even though the notice was issued and served beyond the time, it is covered by the provisions of Section 292BB. Therefore, the proceedings are held to be valid. The order of Ld CIT(A) on this is upheld. Decided against assessee. Issue of demand raised u/s.234D - Held that:- This issue requires re-examination by the Assessing Officer. As seen an intimation u/s.143(1), as noted in the assessment order, was issued on 06-05-2003 i.e., before 01-06-2003. The provisions u/s.234D were introduced effective from 01-06-2003 and it was already held by various High Courts that if the refund is issued after that date, interest under Section 234D can be levied, even for the Assessment Years prior to AY.2004-05. Therefore, the crucial issue to be examined is whether the refund was issued prior to 01-06-2003 or later. - Decided in favour of assessee for statistical purposes
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