https://www.taxtmi.com/caselaws?id=252520 Reassessment under sections 147 and 148 was treated as valid once supported by recorded reasons, and the Assessing Officer was not confined only to the original reason for reopening; income noticed during reassessment could also be examined. A provision for sales tax was held to be an unascertained liability because it had not crystallized in the relevant year, so it could not be deducted while computing book profit under section 115JB. The alleged defect or absence of notice under section 143(2) did not nullify the assessment where the assessee had participated in the proceedings. The delay in filing the appeal was condoned on a bona fide explanation. en-us Fri, 17 Oct 2014 00:00:00 +0530 Tue, 28 Oct 2014 07:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252520 Reassessment under sections 147 and 148 was treated as valid once supported by recorded reasons, and the Assessing Officer was not confined only to the original reason for reopening; income noticed during reassessment could also be examined. A provision for sales tax was held to be an unascertained liability because it had not crystallized in the relevant year, so it could not be deducted while computing book profit under section 115JB. The alleged defect or absence of notice under section 143(2) did not nullify the assessment where the assessee had participated in the proceedings. The delay in filing the appeal was condoned on a bona fide explanation. Case-Laws Income Tax Fri, 17 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252520