2010 (10) TMI 803

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..... e allowed to be deducted therefrom – Held that:- Reference may be made to CIT v. Rajesh Jhaveri (2007 -TMI - 6563 - SUPREME Court) noticing the scheme of law after 1.4.1989. The judgments relied upon do not deal with the case of reassessment after processing and are, thus, distinguishable. Plea of reassessment being illegal, when no satisfactory assessment was earlier made, cannot be accepted on t .....

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..... enses could not be allowed to be deducted therefrom. Accordingly, notice for reassessment was issued. The petitioner filed objection to the effect that proposed reassessment was a result of mere change of opinion which was not permissible. The Assessing Officer rejected the said objection. According to the petitioner, reassessment was not justified on mere change of opinion. Reliance has been plac .....

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..... ve been gone into at the time of processing. Reference may be made to CIT v. Rajesh Jhaveri 291 ITR 500 (SC) noticing the scheme of law after 1.4.1989. The judgments relied upon do not deal with the case of reassessment after processing and are, thus, distinguishable. Plea of reassessment being illegal, when no satisfactory assessment was earlier made, cannot be accepted on the ground that the sam .....

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