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2021 (5) TMI 120 - GUJARAT HIGH COURTReopening of assessment u/s 147 - reopening beyond the period of four years - deduction under Section 80IA - HELD THAT:- The reasons itself record that “on verification of the case records, it is also observed that ”. The observations of the Assessing Officer found in the reasons recorded are based on the assessment records of the year under consideration. It is not the case of the Revenue that full details pertaining to the assessee's claim for deduction under Section 80IA were not furnished. Even the assessment order passed under Section 143(3) of the Act contains a reference to the claim of deduction under Section 80IA of the Act. Merely because while framing assessment for the subsequent year, the AO noticed certain irregularity in the claim by itself would not be sufficient to satisfy requirements of the proviso to Section 147 - It is possible that the specific angle of the depreciation earlier claimed to be set off against the income of the current year of the eligible business may not have been in the mind of the Assessing Officer. Nevertheless, the entire claim of the assessee for deduction under Section 80IA of the Act along with the reasons for revising the return of income with respect to claim under Section 80IA of the Act was before the Assessing Officer and such claim was also processed. Such being the facts, in our opinion, the notice for reopening issued beyond four year, cannot be sustained - Decided in favour of assessee.
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