2020 (9) TMI 576

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.....Vijayaraghavan, Senior Counsel for Ms.Subbaraya Aiyar Padmanabhan For the Respondent : Ms.R.Hemalatha Senior Standing counsel JUDGMENT [ Order of the Court was made by T. S. SIVAGNANAM , J.] This appeal, filed by the assessee, an authorised Bank, under 260A of the Income Tax Act, 1961 ('the Act' for brevity) challenging the order dated 30.08.2011 passed by the Income Tax Appel....

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....lowance of deduction u/s 80M does not arise out of the order of the reassessment without verifying the computation of income? 2. We have elaborately heard Mr.R.Vijayaraghavan, learned Senior Counsel for Ms.Subbaraya Aiyar Padmanabhan, learned counsel for the appellant / assessee and Ms.R.Hemalatha, learned Senior standing counsel for the respondent Revenue. We have carefully perused the impugne....

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....ng the order of assessing officer in reopening the assessment and charging to tax interest accrued but not due on securities and disallowing loss on revaluation of investments. The appellant had filed details of these claims along with the return of income and the assessing officer in the original assessment had allowed these only after examination of the details filed. Hence the reopening was bas....

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.... in respect of the first ground raised by the assessee is as follows: 4. Thus, we find that the ground no.1 of the appeal of the assessee for both the years does not arise out of the reasons recorded by the learned assessing Officer. Hence, this ground of appeal of the assessee is dismissed for both the years under consideration. 5. The finding of the Tribunal in respect of the second ....