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2015 (8) TMI 983 - HC - Income TaxValidity of reopening of assessment - unexplained investments in the construction of the building - Tribunal upholding notice issued under section 148 as valid - Held that:- Limitation for reopening of assessment provided under Section 149 read with Section 150 of the Act would be six years, which would be expiring on 31.3.2004 and thus reopening notice issued after 31.3.2004 would be barred by limitation, as the extended time limit would not be available for the present case because the order of Tribunal passed on 7.4.2006 was itself passed beyond the said period. Thus reopening on the basis of an order passed by the Tribunal beyond the period of limitation specified in Section 149 of the Act, the reopening was held to be in valid. - Decided in favour of assessee.
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