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2014 (5) TMI 938 - AT - Income TaxValidity of reassessment u/s 144 r.w.s. 147 of the Act – Denial of deduction u/s 80IB(10) of the Act – Held that:- The CIT(A) was of the view that as per the proviso to section 151(1), the AO ought to have obtained the approval of the CCIT or the CIT before issue of notice u/s 148 of the Act - the notice was issued after obtaining the approval of Jt CIT Range 25(2), Mumbai, the AO did not follow the procedure laid down in proviso to section 151(1) of the Act while reopening the assessment - the entire reassessment proceedings are ab initio void and invalid - the reassessment proceedings are cancelled - the reopening proceedings u/s 148 was not justified and there was no failure on the part of the assessee to disclose the material facts fully and truly – revenue could not bring any evidence in support of the grievance of the revenue to show that the approval was taken from the CCIT/CIT before issue of notice u/s 148 of the Act - the assessment was re-opened after four years from the end of the relevant assessment year, which means that the AO ought to have taken the approval of the CCIT/CIT- there was no reason to interfere in the order of the CIT(A) - Decided against Revenue.
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