Assessment\u00a0 was completed under section 143(3) of the Act. On\u00a0 basis of report given by commission appointed by Central Government, Assessing officer initiated reassessment proceedings on ground that there was under invoicing of exports. On appeal the Tribunal held that merely based on report submitted by said Commission appointed by Central Government. Reassessment is held to be not justified.\u00a0 Tribunal also held that\u00a0 period during which lockdown was in force in country due to COVID 19 pandemic was to be excluded for purpose of computing time set out for pronunciamiento of judgment by Tribunal i.e. within 90 days from date of hearing. (AY. 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment-Under invoicing-Cash credits-Report of commission-\tReassessment proceedings initiated merely on basis of report of a Commission appointed by Central Government that there was under invoicing of exports-Held to be bad in law-Pronouncement of order-Period during which lockdown was in force in country due to COVID 19 pandemic was to be excluded. [S. 68, 148, 255, ITAT R. 35] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-16676","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4kY","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/16676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=16676"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/16676\/revisions"}],"predecessor-version":[{"id":16677,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/16676\/revisions\/16677"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=16676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=16676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=16676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}