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2016 (12) TMI 1409 - AT - Income TaxValidity of reopening of assessment - Held that:- We hold that the proceedings u/s.147 of the Act were not validity initiated in the present case as the condition precedent for such initiation is absent in the present case. We therefore annul the order of assessment u/s.147 of the Act. In view of the above conclusion, we do not deem it necessary to deal with the ground of appeal raised by the revenue in its appeal. Suffice it to say that the issue raised by the revenue has already been decided by the Tribunal in the appeal u/s.158BC of the Act and decided in favour of the Assessee on merits.
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