2016 (9) TMI 1571

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....er dated 18th December 2012, in the matter of assessment under section 143(3) r.w.s. 147 of the Income Tax Act, 1961, on the following ground: On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in annulling the reassessment proceedings and deleting the addition of Rs. 37,72,288 made on account of excise duty exexpenses paid on capital goods purchased witho....

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....ssment itself as all the relevant material was before the Assessing Officer at the time of original assessment and the reassessment was done on the basis of an audit objection which even the Assessing Officer has not accepted. The CIT(A) was of the considered view that the AO has no new material to form the opinion that the income has escaped assessment. No new facts, either by the audit party or ....