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2014 (1) TMI 1633 - AT - Income TaxReassessment u/s 147 - assessments were reopened u/s 147 of the Act by issuing notice u/s 148 of the Act on 03.03.2008 on the ground that the meat processing plant of the assessee was not liable for deduction u/s 80IB of the Act. - Held that:- Even in the assessment order passed u/s 153A of the Act the AO has recorded that the claim of deduction by the assessee has been examined and verified. It is only after this the AO has granted the assessee deduction u/s 80IB of the Act. A perusal of the reason recorded, as also the assessment order which is the subject matter of the appeal now shows that nowhere is there anything mentioned by the Revenue to show that the assessee has not disclosed truly and fully all material facts necessary for assessment. - for the purpose of reopening an assessment beyond the period of four years form the relevant assessment year there must be a failure on the part of the assessee to disclose fully and truly all the material facts necessary for assessment. This failure having not been shown the first provisio to section 147 grants protection to the assessee. Further the fact that AO in the Assessment orders passed u/s 153A of the Act has specifically mentioned that he has examined and verified the claim of deductions clearly shows that the reopening is only on the basis of a change of opinion, which is also not permissible in such case where the failure on the part of the assessee has not been shown. In the circumstances we are of the view that the finding of ld. CIT(A) is on a right footing and does not call for any interference. Disallowance of employees contribution of PF deducted from the salary before due date - Held that:- As it is noticed that the employees contribution to PF has been paid before the due date of filing the return and this fact has not been disputed by the Revenue we are of the view that findings of ld. CIT(A) being in consonance with the decision of the Hon’ble Jurisdictional High Court in the case of Vijay Shree Ltd. referred to supra we are of the view that the findings of ld. CIT(A) is on a right footing and does not call for any interference. - Decided against Revenue.
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