2019 (1) TMI 1698

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..... against the judgment of Income Tax Appellate Tribunal ("the Tribunal" for short) raising following question for our consideration :- "Whether on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the notice issued u/s 148 was not valid on ground that AO has not demonstrated the failure of the assessee in disclosing the material fact?" 2. The appeal .....

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..... . (iii) Various expenses like interest, commission, brokerage and corporate overheads were not debited to the separate Profit & Loss A/c. Further, sales and administrative expenditure is not proportionate to the expenditure debited in consolidated P&L A/c to the profit of 80-IA units, which has resulted in excess deduction u/s 80-IA. (iv) The assessee claimed deduction u/s 80-IA, 80HHB, 80HHBA .....

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..... already on record. In the absence of the statutory requirement of income chargeable to tax have been escaped assessment due to the failure on the part of the assessee to disclose truly and fully all material facts been satisfied, the Tribunal correctly held that the notice of reopening of assessment was invalid. No question of law arises. 4. The tax appeal is dismissed.
Case laws, Decisions, .....

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