From: editor@itatonline.org <itatonline.org@gmail.com>
Date: Sat, Jun 30, 2012 at 10:04 AM
Subject: Message from EGroup of SolapurCAs S. 147 Reopening Void If Reasons Supplied After Reassessment Order: ITAT Mumbai
To: editor@itatonline.org
Date: Sat, Jun 30, 2012 at 10:04 AM
Subject: Message from EGroup of SolapurCAs S. 147 Reopening Void If Reasons Supplied After Reassessment Order: ITAT Mumbai
To: editor@itatonline.org
Dear Subscriber,
S. 147: Non-supply of recorded reasons before passing reassessment order renders the reopening void. Subsequent supply does not validate reassessment order
The following important judgement is available for download at itatonline.org.
Tata International Ltd vs. DCIT (ITAT Mumbai)
S. 147: Non-supply of recorded reasons before passing reassessment order renders the reopening void. Subsequent supply does not validate reassessment order
After completing the s. 143(3) assessment, the AO received information from the Volcker Committee report that the assessee had paid "illegal" commission for supply of goods to Iraq under the "Oil for Food Programme" of the UN. The AO issued a s. 148 notice to disallow the commission and supplied the assessee with only the "gist" of the recorded reasons. The complete recorded reasons were furnished only after the passing of the reassessment order. In the reassessment order, the AO disallowed the commission. The CIT (A) upheld the reassessment. On appeal by the assessee to the Tribunal, HELD allowing the appeal:
Regards,
Editor,
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