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TMI Blog2012 (4) TMI 805X X X X Extracts X X X X X X X X Extracts X X X X ..... O R D E R PER N.S. SAINI, ACCOUNTANT MEMBER This is an appeal filed by the Revenue against the order of the ld.CIT(A)-I, Madurai, dated 12.08.2011. 2. Ground Nos. 1 6 of the appeal are general in nature and hence, requires no adjudication by us. 3. Ground Nos.2 to 4 of the appeal are directed against the order of the ld.CIT(A) holding that the reopening of the assessment is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. The assessee filed appeal before the ld.CIT(A) objecting to the reopening of assessment after scrutiny assessment was completed. The ld.CIT(A) called for the assessment records and found therefrom that the reopening of assessment was subsequently done at the behest of objection raised by audit authorities and that the relevant IT records indicated that audit objection formed the basis for reo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that account be competent to commence re-assessment proceedings. The ld.CIT(A) further relied on the decision of Hon'ble Supreme Court in the case of Indian and Eastern Newspaper Society vs CIT [1979] 119 ITR 996(SC) where it has been held that audit opinion was still an opinion and not information good enough to justify reopening of assessment within the time limit prescribed under the Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A) deleted this disallowance by observing that interest in question was payable to an institution which is not covered by the provisions of section 43B of the Act. The ld.CIT/DR could not bring any material before us to show that interest in question was payable to an institution which was covered by the provisions of section 43B of the Act. Moreover, as we have already found that reopening of ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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