Dismissing the appeal of the assessee the Court held that ,the the reasons given by the AO were sufficient to reopen the assessment though a specific direction was not given by the CIT(A) for reopening the assessment for the assessment years 2010-11 and 2011-12 as the assessee did not file its returns for the assessment years 2010-11 and 2011-12. The order passed by the single judge was to be confirmed.( AY.2010-11, 2011-12)
Alfa Investments. v. ITO (2018) 409 ITR 540 (Mad) (HC) Editorial: Decision of single judge in Alfa Investments. v. ITO (2018) 400 ITR 445 ( Mad) (HC) is affirmed .
S.147: Reassessment —With in four years -Cash credit — Capital – Partner- Return was not filed – No specific direction by CIT(A)- Notice for reassessment was held to be valid . [ S.68, 148 ]