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No Fishing Enquiries in Reassessment – Pune ITAT Quashes 148 Proceedings After AO Dropped Original Issue!

Case Law Details

Case Name : Raigad District Police Cooperative Credit Society Limited Vs ITO (ITAT Pune)
Related Assessment Year : 2018-19
Courts : All ITAT ITAT Pune
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Raigad District Police Cooperative Credit Society Limited Vs ITO (ITAT Pune) No Fishing Enquiries in Reassessment – Pune ITAT Quashes 148 Proceedings After AO Dropped Original Issue! The Pune ITAT quashed reassessment proceedings holding that once the Assessing Officer accepted the explanation regarding the very issue for which reopening was initiated, he could not make a fresh addition on another issue without issuing a separate notice u/s 148. The case was reopened on the basis of alleged unexplained cash deposits of ₹1.28 crore in the assessee co-operative society’s bank account. ...
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Name: CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka, India
Member Since: 17 Feb 2018 | Total Posts: 5443
CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

My Published Posts

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