Loading ...
Sorry, an error occurred while loading the content.

S. 147: High Court Reverses Law On Supply Of Reasons

Expand Messages
  • editor@itatonline.org
    Dear Subscriber, The following important judgement is available for download at itatonline.org. A. G. Holdings Pvt. Ltd vs. ITO (Delhi High
    Message 1 of 1 , May 1, 2012
    • 0 Attachment
      Dear Subscriber,

       


      The following important judgement is available for download at itatonline.org.


      A. G. Holdings Pvt. Ltd vs. ITO (Delhi High Court)

      S. 147 reopening reasons need not be supplied within limitation period

       

      For AY 2004-05, the AO issued a notice u/s 148 on 15.3.2011. The recorded reasons were supplied to the assessee on 30.8.2011 (after the expiry of the limitation period of 6 years). The assessee, relying on Haryana Acrylic vs. CIT 308 ITR 38 (Del), challenged the reopening inter alia on the ground that as the recorded reasons were supplied after the expiry of the limitation period, the reassessment proceedings were invalid. HELD dismissing the petition:


      (Click Here To Read More)


      Regards,


      Editor,


      itatonline.org

      ---------------------

      Latest:

      CIT vs. P. D. Abrahm (Kerala High Court) Unaccounted expenditure to be set-off against unaccounted income despite Expl. to s. 37(1) & proviso to s. 69C. Govt. criticized for apathy towards black money



    Your message has been successfully submitted and would be delivered to recipients shortly.