Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2016 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (12) TMI 1197 - HC - Income TaxValidity of reopening of assessment - audit objections raised by the audit party relied upon - Held that:- On considering the audit objections raised by the audit party and the reasons recorded to reopen the assessable it appears that on the same ground on which the audit party raised the objection, the assessment for AY 200607 is sought to be reopened Assessee is justified in submitting that the Assessing Officer on the date of issuance of the notice under Section 148 of the IT Act could not have formed a belief that any income has escaped the assessment. Under the circumstances, on the aforesaid ground alone i.e. on the ground that the impugned reassessment proceedings are initiated solely on the audit objections raised by the audit party to which the Assessing Officer was not agreeable, the impugned reassessment proceedings deserves to be quashed and set aside. - Decided in favour of assessee
|