2015 (8) TMI 983

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....dv., A/w Sri E I Sanmathi, Adv. JUDGEMENT This is an appeal filed by the assessee challenging the order of the Tribunal whereby reopening of assessment for the assessment year 1997-98 has been held to be valid. The appeal was admitted on 21.4.2010 on the following questions of law: "(i) Whether the Tribunal was right in law in upholding notice issued under section 148 is valid on the fact....

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....d an order giving certain observations with regard to the income relating to the assessment year 1997-1998. Pursuant to such order of Tribunal, a notice for reopening of assessment under Section 148 of the Act for the assessment year 1997-1998 was issued by the Assessing Officer on 23.10.2006. 3. It is contended by the learned counsel for the appellant that limitation for reopening of assessmen....

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....9 of the Act, the reopening was held to be in valid. 4. Sri K V Aravind, learned counsel for the respondent does not dispute the position that the ratio of the said judgment in the case of M/s.Spences Hotels (P) Limited (supra) directly applies to the facts of the present case. As such, in view of the aforesaid, we answer to the first question in favour of the assessee and against the responden....