2004 (12) TMI 674

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..... Act, 1961, hereinafter referred to as the Act , for opinion to this Court. Whether on the facts and in the circumstances of the case, the Tribunal was, in law, justified in upholding the decision of the A.A.C. Cancelling the re-opening of assessment under section 147(b) on the basis of the decision of Hon ble Supreme Court of India in the case of Indian and Eastern Newspaper Society v. CIT [1 .....

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..... the expenditure incurred on export and claimed weighted deduction amounting to ₹ 54,574 which was allowed by the Assessing Officer. Subsequently on the basis of audit objection/report to the effect that the deduction under section 35B of the Act had been excessively allowed, the proceedings under section 147(b) of the Act were initiated and on re-assessment weighted deduction under section .....

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..... the Act is an information on point of law and, therefore, the Income-tax Officer could not initiate reassessment proceedings under section 147(b) of the Act as the same did not constitute information. 6. In this view of the matter we are of the considered opinion that the Tribunal was justified in upholding the order of the Appellate Assistant Commissioner cancelling the re-assessment under sec .....

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