2016 (1) TMI 1108

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....ior Standing Counsel, Mr Shikhar Garg and Mr Sharad Agarwal, Adv For the Respondent : Mr Mayank K. Nagi, Adv ORDER CM No.229/2016 in ITA 3/2016 1. Allowed, subject to all just exceptions. 2. The application stands disposed of. CM No.228/2016 in ITA 2/2016 CM No.230/2016 in ITA 3/2016 3. For the reasons stated in the applications, the delay in re-filing the appeals is condon....

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....he question of failure to disclose truly the material facts was essentially one of fact. 8. In the present case, it is not as if the relevant material was not disclosed by the Assessee in the first round of assessment. As far as AY 2005-06 is concerned, it is sought to be urged is that while framing the original assessment, the Assessing Officer (AO) had inadvertently failed to notice that accr....

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....law. 9. As regards AY 2004-05, the reopening of assessment was sought to be made on the basis that the Assessee had claimed exemption in respect of its divided income to the extent of Rs. 4,37,82,189. According to the AO, the audit scrutiny revealed that proportionate management and administrative expenses attributable to the above income were not deducted in computing admissible exemption. Aft....

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.... A questionnaire was also issued by the AO vide questionnaire dated 19.9.2006 specifically asking a query why the proportionate administrative and management expenses incurred for earning the exempted income should not be disallowed under section 14A. The assessee Corporation had replied the questionnaire vide letter dated 3.10.2006 which was taken into account and the AO had proceeded to proporti....