2012 (5) TMI 724

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.... ORDER N. K. Billaiya (Accountant Member) The present appeal is filed by the assessee against the order of the CIT[ A] - 2 Mumbai dated 28/01/2011. The assessee has shown its grievance by raising three grounds of appeal. By ground No. 1, the assessee has questioned the action of the CIT(A) in not quashing the assessment order under section 143 [3] read with section 147 of the Act. 2. Bri....

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....o the set off of shortterm capital loss against business income, the A.O rejected the claim of set off of the short term capital loss against business income. 3. The A.O further disallowed an amount of Rs. 4,45,680/- under section 14A r.w. Rule 8D(1) on the ground that the assessee has not offered any disallowance u/s 14 A of the Act in respect of expenditure related to exempt income earned by ....

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.... section 154 was filed however there was no further communication by the AO on the response submitted by the assessee. Therefore the action of the AO by issuing notice under section 147 to reopen the assessment on the very same ground on which notice under section 154 was issued is bad in law. The ld. CIT[A] was requested to quash the assessment order, however, the ld. CIT[A] was not convinced wit....

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.... officer is subjected to the rectification proceedings initiated by the Assessing Officer himself only indicated that the assessment proceedings were not completed at relevant time. The order passed by the Assessing Officer under section 154 is also an order which can be subject to appeal and revision. There is no evidence in the present case that the proceedings are concluded and in any event com....