This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Validity of S.147 reopening has to be determined based on law prevailing on date of issue of S.148 notice
Case Law Details
- Case Name
- Rallis India Limited Vs ACIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
In respect of AY 2004-05, the assessee computed its book profits u/s 115JB by claiming a deduction for provision for doubtful debts and advances and the same was allowed vide order u/s 143 (3). On 18.7.2008 (within 4 years), the AO issued a notice u/s 148 inter alia on the ground that the provision for doubtful debts had to be added back to the book profits. The assessee filed a writ petition to challenge the reopening. HELD allowing the Petition:
(i) U/s 115JB as it stood at the relevant time, the AO was authorised by cl (c) of Expl (1) to s. 115JB to add back “amounts set aside to provisio...
