Section 147

Court :
HC

Brief :
Held by the Hon`ble Court that, what the court is required to check is whether material exists on record for the A.O. to form the "reason to believe" and mere change in opinion on an interpretation of a provision by itself without anything more can not give rise to "reason to believe". Therefore reassessment proceedings on this basis is not justified in law.

Citation :
Siemens Information Systems Ltd. Vs. A.C.I.T. And Others 10/11/2007 [2007] 295 ITR 333 (Bom)

Section 147 Siemens Information Systems Ltd. Vs. A.C.I.T. And Others 10/11/2007 [2007] 295 ITR 333 (Bom) Case Fact: Whether, where original assessment allowed deduction under section 10A and different A.O. in subsequent year not allowed it, reassessment proceedings on this basis is justified in law? Decision: Held by the Hon`ble Court that, what the court is required to check is whether material exists on record for the A.O. to form the "reason to believe" and mere change in opinion on an interpretation of a provision by itself without anything more can not give rise to "reason to believe". Therefore reassessment proceedings on this basis is not justified in law.

139 Views Comment Share Income Tax Report

Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

View Judgements

Comments