{"id":39755,"date":"2024-03-01T17:03:32","date_gmt":"2024-03-01T11:33:32","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-nesco-ltd-2023456-itr-600-291-taxman-286-bomhc\/"},"modified":"2024-03-01T17:03:32","modified_gmt":"2024-03-01T11:33:32","slug":"pcit-v-nesco-ltd-2023456-itr-600-291-taxman-286-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-nesco-ltd-2023456-itr-600-291-taxman-286-bomhc\/","title":{"rendered":"PCIT v. Nesco Ltd. (2023)456 ITR 600\/ 291 Taxman 286 (Bom)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the Revenue\u00a0 the Court held that\u00a0 no fresh tangible material had come into the possession of the Assessing Officer before recording the reasons for reopening the assessment. Even in the recorded reasons, the Assessing Officer clearly stated that his observations were based \u201con a perusal of records\u201d and no fresh or new tangible material had been referred to or brought on record. The Tribunal was right and the notice of reassessment was not valid.(AY.2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-With in four years-Provision for compensation-Allowed as deduction-Notice of reassessment based on same issues-Held to be not valid.[S. 37(1), 148] <\/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-39755","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ald","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39755","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=39755"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39755\/revisions"}],"predecessor-version":[{"id":39756,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39755\/revisions\/39756"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=39755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=39755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=39755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}