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TMI Blog2008 (7) TMI 240X X X X Extracts X X X X X X X X Extracts X X X X ..... the time for issuance of notice under section 143(2) had not expired – revenue’s appeal dismissed - 1026, 1027 of 2008 & M.P. No.1 of 2008 in 1027 of - - - Dated:- 29-7-2008 - K. RAVIRAJA PANDIAN and P.P.S. JANARTHANA RAJA JJ. T. Ravikumar for the appellant. JUDGMENT The judgment of the court was delivered by K. RAVIRAJA PANDIAN J. - The revenue on appeal against the order of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t from bank in a sum of Rs.17,09,661/- in the profits of business eligible for deduction under Section 10A of the Act. Subsequently, the Assessing Officer has issued notice under Section 143(2) and after calling for further details and clarifications, has completed the assessment on 23.12.2005 whereby he has computed the business loss at Rs.3,46,544/- in respect of unit eligible for deduction und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Pachayappan [2008] 304 ITR 264 (Mad) in T.C.A. No.870 of 2007 dated 4.7.2007, wherein this Court has held that no reassessment proceeding could be initiated so long as the assessment proceedings pending on the basis of the return already filed are not terminated. The revenue, aggrieved over that portion of the order, filed the present appeal by formulating the following questions of law:- "1. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plying the principles enunciated in the judgments of the Supreme Court as well as the Delhi High Court, cited supra, the Tribunal is right in coming to a conclusion that no action could be initiated under section 147 of the Act, when there is a pendency of the Return before the Assessing Officer. The reasons given by the Tribunal are based on valid materials and evidence and we do not find any err ..... X X X X Extracts X X X X X X X X Extracts X X X X
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