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Yes Bank Ltd. Versus The Assistant Commissioner of Income Tax And Others

2016 (5) TMI 1267 - BOMBAY HIGH COURT

Reopening of assessment - claim of deduction under Section 36(1)(viia) - Held that:- On being satisfied with the basis of the petitioner's claim for deduction under Section 36(1)(viia) of the Act, the Assessing Officer passed orders dated 29th Januar .....

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2 - SUPREME COURT OF INDIA ) was very much available. Thus, prima facie, the Assessing Officer would have formed a necessary opinion taking a view that the decision of the Apex Court in Catholic Syrian Bank Ltd. (supra) would not militate against the .....

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WRIT PETITION (L) NO. 697, 702 OF 2016 - Dated:- 20-4-2016 - M. S. Sanklecha And A. K. Menon, JJ. For the Petitioner : Mr. J.D. Mistri, Senior Counsel a/w Madhur Agarwal i/b Atul Jasani For the Respondent : Mr. Nirmal C. Mohanty ORDER P. C. 1. Heard .....

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f both the impugned notices are identical save and except the quantum involved. 3. The reasons in support of the impugned notices for coming to the reasonable belief that income chargeable to tax has escaped assessment is on the interpretation of Sec .....

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tioners had brought to the notice of the Assessing Officer, the basis of its claim of deduction under Section 36(1)(viia) of the Income Tax Act, 1961 on the specific query of the Assessing Officer. 4. On being satisfied with the basis of the petition .....

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the orders under Section 143(3) of the Act, the decision of the Apex Court in Catholic Syrian Bank Ltd. (supra) was very much available. Thus, prima facie, the Assessing Officer would have formed a necessary opinion taking a view that the decision of .....

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