Case re-open u/s.148 for a.y.2008-09
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 April 2013
The regular assessment for A.Y. 2008-09 completed and assessment order also received by the assesee but Balance sheet at the time of return filing was regrouped at the time of assessment. So that point of view in Audit point query raised by the both balance sheet are differed. And that time reconcilliation of Balancesheet submited. Than what we can do in this case. How We handle and wind up case of the scrutiny on this base.
24 April 2013
Its difficult to understand from language used.
However what i understood is that balance sheet in return and balance sheet at the time of assessment is different and you have also provided reconciliation of same.
When notice of reassessment is issued first step is to ask AO reason for assessment.
You have all right to object on reasons. You can say that no new material has come on record as AO was aware about two different balance sheet and reconcilaiton was also provided. so you should file objection against reopening for which AO is bound to pass speaking order as per apex court judgement.
However what i understood is that balance sheet in return and balance sheet at the time of assessment is different and you have also provided reconciliation of same.
When notice of reassessment is issued first step is to ask AO reason for assessment.
You have all right to object on reasons. You can say that no new material has come on record as AO was aware about two different balance sheet and reconcilaiton was also provided. so you should file objection against reopening for which AO is bound to pass speaking order as per apex court judgement.
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