| |
| The Tax Publishers2020 TaxPub(DT) 4658 (Mad-HC) INCOME TAX ACT, 1961
Section 147
When a specific plea has been raised by the assessee, contesting the validity of the reopening proceedings, the CIT(A) and the Tribunal could have considered the same. Thus, matter was remanded to Tribunal to decide the validity of the reopening proceedings.
|
Reassessment - Validity - Re-examining the facts already on record -
Assessee filed appeal against reopening of assessment contending that AO had done a roving enquiry by re-examining the facts already on record. Held: Assessee had specifically raised a plea regarding the validity of the reopening. In fact,, the assessee, being a Nationalized Bank, does not stand to gain by not raising such a plea, especially when they have got a large team of Legal Experts and Chartered Accountants advising them in these matters. Therefore, the validity of the reopening needs to be considered by the Tribunal on merits and in accordance with law. Thus, matter was remanded to Tribunal to decide the validity of the reopening proceedings.
REFERRED :
FAVOUR : Matter remanded.
A.Y. : 1990-91 & 1991-92
 SUBSCRIBE FOR FULL CONTENT
|