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1 - 6 of 6 (0.21 seconds)Section 147 in The Income Tax Act, 1961 [Entire Act]
Section 148 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Income-Tax Officer vs Naresh Batra, Huf on 31 August, 1995
Subsequently, the Assessing Officer entertained a difference of
opinion and issued notice u/s 148 of the I.T. Act. This is not legally
valid. For this proposition, he relied on the decision of the Agra Bench
of the Hon'ble ITAT in the case of ITO vs. Haresh Chand Agarwal,
HUF in ITA No.282/Agra/2013 dated 20.12.2013 wherein it is held that
the provisions u/s 147 can not be applied for applying the provisions
u/s 5OC of the I.T. Act. Ld. AR, therefore, submitted that the
Assessing Officer is not justified in initiating proceedings u/s 147 of
the I. T.Act.
Dcit, Salem vs Shri P. Anbazhagan, Komarapalayam on 31 January, 2017
8.1 Coming to ld. DR's contention that AO can reopen when there is
escapement of income by relying on the case i.e. ACIT Vs. Rajesh
Jhaveri Stock Brokers Ltd. (supra), wherein, the case was reopened
with the audit objection on the assessment u/s 143(1), it was a case
in which assessment was completed u/s 143(1) and reopened with the
factual findings brought out by the audit party, the Hon'ble High Court
has dismissed the case by referring to the facts of Adam Exports Vs.
DCIT [1999] 240 ITR 224 (Guj.), as per which the reopened
assessment was completed u/s 143(3). Hon'ble Supreme Court
distinguished this case and allowed SLP in favour of revenue.
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