2012 (8) TMI 520

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....90,99,303/-. The assessment was completed under section 143(3) on 21.08.2007. Subsequently, the case was reopened and a notice under section 148 was issued on 4.3.2010 and respond to the notice assessee had filed return of income on 28th May, 2010. Thereafter Assessing Officer had issued notice under section 143(3) to the assessee. During the course of the reassessment proceedings, the Assessing Officer has observed that it is seen from the profit and loss account for the year ending 31.3.2005, the assessee had debited an amount of Rs.24,04,453/- being software expenses. The assessee had purchased a software viz. "LIC PRINECT SIGNA STATION 74" from Hiedlberg, Germany vide invoice no.1803015627 dated 15th December, 2004 through order no.1....

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..... The only objection of the assessee before the Assessing Officer was to pass a speaking order. The CIT(A) further observed that only during the course of assessment proceedings, that too in the month of December, a letter dated 27th December, 2010 was filed before the Assessing Officer where it is stated that proposed reassessment under section 148 is not legally correct. The CIT(A) with that observation without deciding legal issue before him proceeded to decide the matter on merits and confirmed the addition made by the Assessing Officer. On being aggrieved, assessee carried the matter in second appeal before the Tribunal. 3. At the time of hearing, counsel for the assessee submitted that reopening was bad in law as it was done bey....