Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
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Validity of Re-assessment proceedings u/s 147 - Earlier the notice for Assessment u/s 153A/C was issued - denying deduction u/s 80IB - The High Court observed that the impugned reopening notice was based on the same issue that was subject to appeal, which led to the order dated 30th March 2015 by the CIT(A). The Court cited the third proviso to Section 147 of the Act, which prohibits reassessment of income involving matters that are the subject of any appeal, reference, or revision.
Validity of Re-assessment proceedings u/s 147 - Earlier the notice for Assessment u/s 153A/C was issued - denying deduction u/s 80IB - The High Court observed that the impugned reopening notice was based on the same issue that was subject to appeal, which led to the order dated 30th March 2015 by the CIT(A). The Court cited the third proviso to Section 147 of the Act, which prohibits reassessment of income involving matters that are the subject of any appeal, reference, or revision.
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