2023 (2) TMI 315

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.... Ramnath P. Murkunde ORDER PER R.S. SYAL, VP : This appeal by the assessee is directed against the order dated 07-10-2022 passed by the CIT(A) in National Faceless Appeal Centre, Delhi in relation to the assessment year 2010-11. 2. The first grievance of the assessee is against the initiation of the reassessment proceedings. 3. Succinctly, the facts of the case are that the assessee....

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....the Tribunal. 4. We have heard both the sides and gone through the relevant material on record. We espouse the initiation of reassessment first. The assessment was completed u/s.143(3) on 26-02-2013. Thereafter, the AO issued notice u/s.148 on 29-03-2017. Thus, it is apparent that the original assessment in this case was completed u/s.143(3) and the notice u/s.148 was issued after a period of f....

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....s complied with? 5. It can be seen from the reasons for reassessment that the assessee claimed deduction of Rs.30,000/- as TDS; and Rs.11.00 lakh as provision for N.P.A. Both these items were disclosed in the Profit and loss account. Nothing anent to these items was undisclosed, much less fully and truly, in the return. It was for the AO to take care of such necessary facts while completing the....