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Mrs MAINA SHETTY Versus THE DY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, MANGALORE

Validity 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 .....

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f 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 va .....

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is an appeal filed by the assessee challenging the order of the Tribunal whereby reopening of assessment for the assessment year 1997-98 has been held to be valid. The appeal was admitted on 21.4.2010 on the following questions of law: "(i) Whet .....

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estments in the construction of the building for the A.Y.1997-98 on the facts and circumstance of the case? (iii) Whether the Tribunal was justified in law in appreciating the levy of interest u/s 234A, B, D of the Act on the facts and circumstances .....

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1 ('the Act' for short) on 15.10.1997. Then on 17.4.2006, the Tribunal, in the case of assessee for the assessment year 1998-1999, passed an order giving certain observations with regard to the income relating to the assessment year 1997-1998 .....

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hat 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 ext .....

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sion of the Apex dated 20th September, 2012 in the case of M/s.Spences Hotels (P) Limited -vs- Deputy Commissioner of Income Tax (Civil Appeal No.6745/2012), wherein it has been held that in similar circumstances, where the reopening was on the basis .....

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