| |
| The Tax Publishers2020 TaxPub(DT) 4535 (Mum-Trib) INCOME TAX ACT, 1961
Section 148
Where reasons as recorded by AO for reopening of assessment for the assessment year 2012-13 was also identical for both these assessment years in which there was no mention about escapement of income on account of disallowance under section 14A, therefore, reopening of assessments was bad in law.
|
Reassessment - Disallowance under section 14A - No reason was brought on record on account of escapement of income -
AO issued notice under section 148 for reopening of assessment making addition under section 14A which assessee contended that reopening of assessment was bad in law for reason that AO did not make addition/disallowance on the ground that the assessment was reopened and disallowance was made on the issue not at all connected with the issue on which reasons were recorded. Assessee submitted that in the earlier assessment years disallowance was restricted to dividend income. However, during these assessment years the assessee has offered dividend income to tax. Therefore, no disallowance was warranted. Held: Reasons as recorded by AO for reopening of assessment for the assessment year 2012-13 was also identical for both these assessment years in which there was no mention about escapement of income on account of disallowance under section 14A. Facts being identical applying the ratio of the decision in the case of Jet Airways Ltd. (2011) 331 ITR 236 (Bom) : 2011 TaxPub(DT) 0218 (Bom-HC) it was held that reopening of assessments was bad in law.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2010-11 to 2013-14
IN THE ITAT, MUMBAI BENCH
 SUBSCRIBE FOR FULL CONTENT
OR Try Reload the Page |