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2014 (4) TMI 852 - ANDHRA PRADESH HIGH COURTValidity of order u/s 147 of the Act - reassessment – Held that:- The Explanation-3 to Section 147 of the Income Tax Act does not apply - Explanation-3 will be applicable in case where live issue, which was subsisting at the time of original assessment and if such issue has escaped the determination of the AO0, can be a ground for reopening - any new issue that has cropped up subsequently on new set of facts, the Explanation has no application - the Explanation-3 has not really diluted cardinal object of Section 147 of the Income Tax Act for reopening - The Explanation-3 has been given a retrospective effect with an idea there are so many assessment orders, which were passed earlier without deciding the issue subsisting at the time of original assessment – Decided against Revenue.
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