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2015 (10) TMI 1621 - ITAT AHMEDABAD

2015 (10) TMI 1621 - ITAT AHMEDABAD - TMI - Reopening of assessment - reopening on basis of audit objection - Mat computation - Addition for bad and doubtful debt in computation of book profit u/s 115JB - CIT(A) deleted the addition - Held that:- Respectfully following the case of Raajratna Metal Industries Ltd. vs. ACIT [2014 (8) TMI 598 - GUJARAT HIGH COURT] hold that the assessment for the year under consideration was not validly reopened u/s 147. Be that as it may be, the assessee has not fi .....

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(A) and dismiss the appeal filed by the Revenue. - Decided against revenue. - ITA No. 931/Ahd/2011 - Dated:- 19-6-2015 - G. D. Agrawal, VP And S. S. Godara, JM,JJ. For the Appellant : Shri Dinesh Singh, Sr. DR For the Respondent : Shri S N Soparkar, AR ORDER Per G D Agrawal, Vice President This is an appeal filed by the Revenue and is directed against the order of the Ld. Commissioner of Income-tax(Appeals)-XXI, Ahmedabad dated 12.01.2011, pertaining to Assessment Year 2003-04. 2. In this appeal .....

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ed that before the CIT(A) the assessee has challenged the validity of reopening of assessment. The CIT(A) discussed the assessee s contention; however, ultimately did not agree with assessee s contention and decided the appeal of the assessee on merit, deleting the addition made by the Assessing Officer. Since the entire addition made by the Assessing Officer was deleted by the CIT(A), the assessee has not preferred any appeal. However, now the assessee chooses to support the order of the CIT(A) .....

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therefore, submitted that once the assessment order itself is not valid, the addition made to the book profit cannot survive. He, therefore, submitted that since the assessee has not filed the appeal or cross-objection against the order of the CIT(A), the assessee cannot claim the quashing of the assessment order, but the only prayer of the assessee is to sustain the order of the CIT(A). 4. The ld. Departmental Representative, on the other hand, relied upon the order of the Assessing Officer an .....

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by the assessee with ITO, Ward-5(1) Ahmedabad on 25-11-2003 declaring NIL. The case was reopened u/s 147 of the I.T. Act on the basis of audit objection raised by the revenue audit after obtaining the approval of the Commissioner of Income Tax. There after the case was transferred to the DDIT(E) Ahmedabad. The assessee trust is a limited company incorporated in October 1995 and converted into a company under section 25 of the Companies Act 1956 w.e.f. 25.12.2005." 6. Thus, the Assessing Of .....

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agraph 9 of the order reads as under:- "9. In view of the above and for the reasons stated herein above, present petition succeeds on the aforesaid ground alone, i.e. the assessment was reopened solely on the ground of audit objections raised by the audit party. Consequently, the impugned reassessment proceedings are hereby Quashed and set aside. Further, it is made clear that we have expressed no opinion with respect to the grounds of objections raised and the impugned reassessment proceed .....

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