Prior period expenses disallowed in first year of business. Reassessment quantum addition can't be challenged via rectification order.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Validity of order passed u/ss 154/147/143(3) - Disallowance of prior period expenses - Relevant previous year being first year of assessee's business, no prior period expenses existed - Quantum addition and charging of interest in reassessment order u/s 147/143 cannot be raised during appellate proceedings initiated due to revision/rectification order u/s 154/147/143(3) - Rectification order cannot challenge validity and quantum addition made in reassessment order - Appeal challenging quantum addition dismissed.....