AO awarded an effective reopening observe with the soil you to definitely assessee team had reduced a sum of large amount to it’s handling manager apart out-of directors remuneration and you can exact same would be to become disallowed around point 36(1)(ii). It actually was held you to because the assessee got produced adequate disclosures through the brand new testing and you can predicated on same the research was completed and you can, subsequent, reopening find issued in case of assessee to own next analysis year towards similar floor/material are dropped towards the surface regarding transform from advice and you may same was approved by the funds, following exact same consider, impugned reopening has also been to-be lay asid. [AY: 2007-2008]
S. 148 : Reassessment – See – Amalgamation regarding businesses – Amalgamating providers and amalgamated team doing work out of same target immediately following amalgamation – Supply away from Area 170(2) applicable- Took part in the new reassessment process – See and you can reassessment procedures appropriate [S
New assessee had constructed a residential building and recorded a valuation declaration in the course of the latest testing, and therefore was created acknowledged of the AO. Then, the AO referred the problem to another valuation manager and you can gotten their declaration, the benefits depending on that was somewhat higher than that said regarding assessee’s valuation declaration. Stored you to except that depending on new valuation declaration, discover zero separate application of head on the part of the brand new AO which will justify new reassessment. (A.Y. 2003-04)
The notice of reassessment wasn’t legitimate
Dismissing this new petition the brand new Legal kept you to a good writ petition facing a notification not as much as area 148 wasn’t is amused into the a normal fashion. The fresh new notice could be challenged when your providing expert didn’t come with legislation or if perhaps it had been given outside of the ages of limit. If your soil out of restrict resided, the new assessee you can expect to boost like thing before competent authority and you will perhaps not through to the courtroom. (AY.2011-12)
S. 148 : Reassessment – See – Assessee enjoys straight to boost arguments – Duty regarding Examining Manager to adopt arguments – Inability to take on objections – Amount remanded [S. 147, Artwork 226]
Enabling the brand new petition the brand new Judge kept one to while the Determining Officer had the possibility at the phase of discussing the new arguments to ensure new assertion of the assessee, hence went to the underlying of one’s amount, he forgotten the problem providing a posture that the informative localhookup proposal might be checked during the time of reassessment procedures after offering adequate chance to the fresh assessee. Additionally the Examining Officer didn’t come with procedure to suggest the assessee had generated fee inside the bucks to S and you can afterwards, gotten the same number straight back from genuine-go out terrible payment means. Matter remanded so you’re able to Examining Administrator.(AY. 2015-16)
Dismissing the petition brand new Court kept one to into the products and you may points dependent, the new assessee was required to take part in the reassessment procedures lower than section 147 from the submission their data and you may proof to determine their situation. Immediately after merger that have impression of both the organizations, HCLP and HCLC, were running in identical premises. Further, new bill of one’s find granted by the Secretary Commissioner had perhaps not come disputed of the assessee. Hence, part 170(2) would be appropriate and you can sucsh soil cannot meet the requirements getting the purpose of quashing the whole legal proceeding started less than section 147. Also to your merits, the new Secretary Commissioner got built that there try “need to believe” in view away from specific this new material based in the question of ordered systems regarding mutual funds. This might not present people appropriate factor in the objective of assailing the newest notice issued under point 148. (AY. 2005-06)