(Supreme Court Of India)
Petition for Special Leave to Appeal (Civil) No. 19085 of 2011 | 29-07-2011
1. In our view, the reopening of assessment is fully justified on the facts and circumstances of the case. However, on the merits of the case, it would be open to the Assessee to raise all contentions with regard to the amount of Rs. 98.46 lakhs being offered for tax as well as its contention on Section 14A of the income tax Act, 1961.
2. Subject to the above, the SLP is dismissed.
Ajay Vohra and Kavita Jha, for the Appellant;
Income Tax Act, 1961 — Ss. 147, 148 and 149 — Reopening of assessment — Assessee claiming deduction under S. 14A — Reopening of assessment held justified on facts and circumstances of case — However, assessee permitted to raise all contentions with regard to amount of Rs. 98.46 lakhs offered for tax as well as its contention on S. 14A — Income Tax Act, 1961, Ss. 147, 148 and 149
