Notice U/s. 148 valid despite no fresh material if Return was processed U/s. 143(1)

Ajay Narayan Bhoir Vs ACIT (ITAT Mumbai) In case of return of income processed under section 143(1), the only condition to be satisfied for reopening is that taxable income has escaped assessment and the assessee’s plea that no fresh material was there before the AO warranting re-opening, was not relevant. FULL TEXT OF THE ITAT JUDGMENT This is an appeal filed by the assessee. The relevant assessment year is 2011-12. The appeal is directed against the order of the Commissioner of Income Tax (Appeals)-2, Thane [in short ‘CIT(A)’] and arises out of the assessment completed u/s 143 (3) r.w....