Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Reassessment based on an audit objection was quashed where the same CSR-related deduction under Section 80G had already been specifically examined in the original assessment. The Court held that the assessing officer had raised queries, received replies and supporting documents, and substantially allowed the claim earlier, so reopening on the same record amounted to a mere change of opinion. It reaffirmed that reassessment under Sections 147 and 148 cannot be used as a power of review or to re-examine material already considered. The notices under Section 148A(b), the order under Section 148A(d), and the notice under Section 148 were therefore set aside, while all other grounds were left open.
Reassessment based on an audit objection was quashed where the same CSR-related deduction under Section 80G had already been specifically examined in the original assessment. The Court held that the assessing officer had raised queries, received replies and supporting documents, and substantially allowed the claim earlier, so reopening on the same record amounted to a mere change of opinion. It reaffirmed that reassessment under Sections 147 and 148 cannot be used as a power of review or to re-examine material already considered. The notices under Section 148A(b), the order under Section 148A(d), and the notice under Section 148 were therefore set aside, while all other grounds were left open.
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