S. 147: Reassessment – Following the expiration out of number of years – Declaration regarding analysis wing – Low applying of brain from the Determining Administrator – Find not good [S.148, Ways, 226]
Allowing this new petition the brand new Court kept your Assessing Officer had perhaps not used their separate head if you’re recording the reasons the money had escaped comparison. The fresh new scrutiny evaluation had been challenged of the assessee-company while the notice is actually pending through to the Appellate Tribunal. While the dilemma of alleged deal out-of Rs. 7,fifty,055 try prior to additional by the Examining Officer not as much as part 68 of the Act within brand spanking new evaluation stage, a similar matter couldn’t be taken to taxation once more from the reassessment procedures. It was not your situation of one’s Cash that deal as outlined by the brand new Investigating Wing, Surat try distinct and had no family members to your before scrutiny evaluation produced around part 143(3) of one’s Operate. Thus, as such there is certainly no tangible topic in the possession of from the brand new Assessing Officer to possess reopening of one’s procedures. ( AY.2012-13)
S. 147: Reassessment – Adopting the expiry out of few years – Housing records – Affairs disclosed about unique comparison procedures have been incorrect – Observe was held to-be legitimate [S.148, Artwork 226]
Dismissing the petition the latest Court kept your Assessing Administrator had examined what gotten on the Surat side and you may based on all the details made inquiries and you can shortly after independent application of head, and you can on due pleasure, had hit the end the alleged transaction having An effective Ltd. was a false pick plus it try hotel entries offered on exemplory instance of Have always been as well as their group. Following framing of your own review generated not as much as area 143(3) of the Income-tax Work, 1961 concrete issue came into the hands of one’s Examining Manager from Research Side and you may up on perusal thereof, he produced separate concerns and you may used his mind and you may upon due pleasure, he formed an opinion that the earnings got fled research. The brand new see out of reassessment is valid.(AY.2012-13)
This new see away from reassessment wasn’t good
One another officials got perused the reason why filed and you will opined that it is a fit situation so you’re able to point find under part 148. You will find conformity with area 151. The fresh new observe are appropriate.(AY.2012-13)
S. 147: Reassessment – Following expiration out of several years – Zero fee of interest or remuneration – Find towards the floor you to payments should have started made – Maybe not valid [S.80(IB)(10), 148, Art 226]
S. 147: Reassessment – Adopting the expiration from couple of years – Hotel records – Policed diamonds – After that advice – Exchange revealed on brand-new analysis proceedings weren’t appropriate – Sanction received – Reassessment was held to get appropriate [S
Allowing the new petition the Court kept that there try zero issue into the listing to indicate that assessee had actually acquired people notice on the money and remuneration regarding the agency. The newest checklist next revealed that with the research year 2010-eleven, deduction around area 80-IB(10) is actually claimed without paying any desire towards funding and you can remuneration to partners and you may including claim wasn’t interrupted of the Determining Administrator. Contained in this look at the problem, the finish started to by the Examining Manager that the assessee had reported deduction in place of bringing desire towards financial support and you will remuneration so you’re able to couples as per conditions 6 and you can seven of your own deed, and hence money got escaped review due to inability towards the the newest a portion of the assessee 
in the processing of one’s get back regarding money exposing completely and you will truly all of the issue circumstances, had been in comparison to legislation and without legislation.(AY.2011-12 so you’re able to 2013-14)