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2010 (8) TMI 310 - ALLAHABAD HIGH COURTSection 10A of the Income-Tax Act, 1961 - free trade zone - In the present writ petition the petitioner is challenging the notice under Section 148 of the Act - Whether the assessee has claimed lesser amount of depreciation and increased the amount of income is wholly irrelevant as the entire income of the assessee was exempted from tax under Section 10-A of the Act in the year under consideration - In support of the contention, he relied upon various decisions of the Supreme Court and the High Courts - In the case of GKN Driveshafts (India) Ltd. v. Income-Tax Officer 2002 (11) TMI 7 - SUPREME Court it was held - reliance placed on the provision of Section 43-A of the Act, which has been inserted by the Finance Act, 2002 with effect from 1.4.2003, which, according to learned counsel for the petitioner, has set at rest all the controversies relating to the claim of depreciation. Since this provision was not available with the assessing authority when the notice under Section 148 of the Act was issued, that the noticee is entitled to file objections to issuance of notice and the Assessing Officer is bound to dispose of the same by passing a speaking order – Thus the writ petition stands disposed of
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