2012 (10) TMI 798

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....holding that the re-assessment framed under section 143(3) r/w 147 for the assessment year 94-95 is invalid on the ground that no notice under section 143(2) was served before framing the re-assessment ? 2. Whether in the facts and circumstances of the case, the Tribunal was right in holding that expenditure on renting a guest house is allowable as a business expenditure as per section 37(4)? 3. Whether in the facts and circumstances of the case, the Tribunal was right in holding that Lucknow property which was exchanged for another property in respect of which the assessee had forgone the tenancy rights was acquired for a valuable consideration and allowing depreciation under section 32 ?" 2. T.C. (A). No. 1183 of 2006 relates to jurisd....

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....ssessee's letter dated 11.1.99, the Assessing Officer however viewed that since the assessee had not filed the return, after discussing the matter, the assessment was completed. Aggrieved by this, the assessee went on appeal before the Commissioner of Income Tax (Appeals) questioning the reopening of the assessment on merits as well as on non compliance of the requirements under Section 143(2) of the Act. 4. The first Appellate Authority upheld the reopening of the assessment under Section 147 of the Act. On the quantum, the Commissioner of Income Tax (Appeals) granted partial relief. reassessment. As against the same, assessee filed an appeal before the Income Tax Appellate Tribunal. The Revenue too on its part filed the appeal as against....