| Question And Answer | |
|---|---|
| Subject: | REOPENING OF ASSESSMENT ON ACCOUNT OF AUDIT OBJECTION |
| Category: | Income-Tax |
| Querist: | RAVINDRA TURAGA |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Audit, Audit objection, Re assessment, Reassessment |
| Date: | June 7, 2022 |
ASSESSMENT FOR A.Y.2014-15 WAS REOPENDED U/S 148 DUE TO AUDIT OBJECTION. FALLOWED BY REOPENING AO ON VERIFICATION OF ASSESSEE COMPANIES RECORDS SATIFYED REVENUE AUDIT WITH NECESSARY DETAILS, FALLOWED BY THIS REVENUE AUDIT DROPPED REOPENING OF ASSESSMENT. AO UPLOADED DROPPING OF REOPENING ORDER ON NFAC PORTAL
IN THE MEAN TINE NFAC ISSUED 142(1) NOTICE AND ULTIMATELY COMPLETED ASSESSMENT BY RAISING HUGE DEMAND WITHOUT TAKING COGNIZENCE AO’S ORDER OF AUDIT OBJECTION
This seems to be a pecuniary case of miscommunication between the jurisdictional AO and the NFAC. Once the reassessment proceedings are dropped the assessment order is illegal and bad in law.
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