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2011 (3) TMI 569 - AT - Income TaxReassessment - change of opinion - application of principal of res judicata - proper service of notice u/s 148 - Held that:- When the receipt of notice in question by an authorized person of the assessee is not being disputed, the dispute raised by the assessee on the basis of signature on acknowledgement of such notice is not valid Change of opinion - assessee’s society and all educational institutions run by it were assessed as a single entity and exemption was allowed u/s 10(23C)(iiiab) for earlier years but assessed separately during the reassessment proceedings - Held that:- no opinion was formed by the Assessing Officer till assessment year 2001-02. - remedial action is being taken in that year and merely on the basis of wrong view taken by the Assessing Officer in assessment year 2002-03, it cannot be held that the Department is precluded from taking a correct view of matter in subsequent years. Deduction u/s 10(23C)(iiiab) - Clubbing of turnover - gross receipt in excess of Rs. 1 crores - Held that:- As per the provisions of this sub-clause (iiiad) of clause (23C) of section 10 that the term "aggregate annual receipts" of each educational institution is relevant and if any assessee is having more than one educational institution then the aggregate annual receipt of each of such educational institution has to be considered separately - the income of these three institutions are also exempt u/s sub-clause(iiiad) of clause (23C) of section 10 because aggregate income of each of these institutions in each of these two years is below Rs. 1 crore. The requirement of approval of CCIT under sub-clause (vi) of clause (23C) of section 10 is for those who are not covered by sub-clauses (iiiab) or (iiiad) of clause (23C) of section 10. Since, these three institutions are covered by clause (iiiad), clause (vi) is not applicable.
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