Dismissing the appeal the Court held that ; the assessee has failed to file its return for the Asst .Years 2010-2011-12 , reopening of assessment when it was made known during assessment year 2012-13 that the capital introduced in the course of earlier two financial years. The notice to reassessment is held to be valid . (WP Nos. 1438/ 1439 of 2017 dt 10-04-2018) (AY. 2010 – 11 to 2012 – 13)
Alfa Investments. v. ITO (2018) ( 2018) 304 CTR 425/ 167 DTR 95 ( Mad) (HC) Editorial: Order of single judge ,Alfa Investments. v. ITO (2018) 400 ITR 445/ 161 DTR 155 / 300 CTR 85 (Mad) (HC)
S. 147 : Reassessment —Cash credits – No specific direction -Failure to file return- Finding of the CIT(A) in assessment year, 2012 – 13 stating that the amount assessable in the years 2009 – 10 and 2010 – 2011 – Reassessment was held to be valid [ S. 68, 148 ]