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2013 (8) TMI 327 - ITAT CHENNAINotice u/s 148 - Reasons given for reassessment - CIT held reasons not sufficient and quashed reassessment proceedings - Held that:- Assessee had given a detailed reply along with tariff order of CERC justifying the reversal. It was after considering all these aspects, that the original assessment order was passed by the Assessing Officer - When specific queries were raised and detailed answers were given, it would be naïve to presume that Assessing Officer had not applied his mind - There was no new material with Assessing Officer for taking a view that claim of the assessee was incorrectly allowed. There was no new tangible material, for resorting to reopening - Following decision of DEPUTY COMMISSIONER OF INCOME TAX Versus M/s NEYVELI LIGNITE CORPORATION LTD [2012 (8) TMI 190 - ITAT, CHENNAI] - Decided against Revenue.
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