Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (6) TMI 358 - ITAT MUMBAIValidity of re–opening of assessment u/s 147 - Held that:- Materials on record clearly indicate that during the original assessment proceedings the Assessing Officer did raise queries with regard to the assessee’s claim of deduction under section 80IAB - Re–opening of assessment u/s 147 in both the assessment years under appeal having been made on a mere change of opinion in the absence of tangible material is legally invalid - assessment orders passed in pursuance thereto have to be declared as invalid. Disallowance made u/s 80IAB - Held that:- Assessee has been approved as a co–developer from the date of co–development agreement i.e., 28th February 2006 - in assessment year 2010–11 and 2011–12 assessing officer has allowed assessee’s claim of deduction under section 80IAB of the Act in scrutiny assessments. On perusal of material placed on record we find the aforesaid submissions of the assessee to be correct. Therefore, when under similar facts and circumstances assessee’s claim of deduction under section 80IAB have been allowed in subsequent years, there is no justifiable reason to reject assessee’s claim in the impugned assessment years. Thus, in our considered opinion, the assessee is entitled to avail deduction under section 80IAB of the Act
|