Search: reassessment

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Section 40A(3)5 Section 1484 Section 143(3)3

ITO, WARD-1(1), SOLAPUR, SOLAPUR vs. MS. KSHIRSAGAR FABRICS, SOLAPUR

In the result, the appeal filed by the Revenue is dismissed

ITA 97/PUN/2024[2009-10]Status: DisposedITAT Pune17 Sept 2024AY 2009-10

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2009-10

For Appellant: Shri Nikhil PathakFor Respondent: Shri Sourabh Nayak, Addl. CIT

Section 143(3)Section 147Section 148Section 40A(3)

72A, set-off of brought forward losses on amalgamating company on amalgamation with assessee was not in order, reopening of assessment on second thought on same audit objection was not permissible while exercising powers under section 147 read with section 148. 13. Referring to the decision of the Hon'ble Supreme Court in the case of ACIT vs. ICICI Securities