MANISH GYANCHAND JAIN,GANDHIDHAM vs. ASSTT. COMMR. OF INCOME TAX, GANDHIDHAM CIRCLE, , GANDHIDHAM
In the result the appeal of the assessee is allowed
ITA 95/RJT/2018[2009-10]Status: HeardITAT Rajkot08 Jul 2022AY 2009-10
Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal
For Appellant: Shri Kalpesh Doshi , A.RFor Respondent: Shri B.D. Gupta, Sr. D.R
Section 131Section 133ASection 143(3)Section 147Section 148Section 23A
u/s 147 of the Act has to be limited to the extent they reduce the income to originally assessed and as such income for the purpose of re-assessment cannot be reduced beyond the income originally assessed. Therefore, in reassessment proceedings under section 147 of the Act, the assessee cannot seek a review of concluded item, unconnected with escapement
