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2011 (11) TMI 350 - HC - Income TaxValidity of re-opening of assessment – erroneous deduction u/s 80IA on miscellaneous income – assessee engaged in business of and in Exports of Rice, pulses - original assessment order passed u/s 143(1)(a) without examining the claim of deduction u/s 80IA on merits – assessee contended that A.O. or CIT(A) had considered the issue in the original assessment proceedings – Held that:- A.O. rejected the claim of deduction u/s 80IA at the threshold simply on the ground that there was no separate working of the industrial profit and admissibility of claim was not even touched by him. CIT (A) also dealt with this aspect alone. In such case, judgment of the Supreme Court in Rajesh Jhaveri Stock Brokers Pvt Ltd (2007 - TMI - 6563 - SUPREME Court) is clearly applicable. Therefore, it cannot be said that it is a case of mere “change of opinion” when no opinion was formed in the first instance. New material need not be extraneous to the record and the touchstone is not where the material is to be found i.e. within the existing record or outside. Insofar as denial of claim u/s 80 IA on merits, is concerned, no grievance was raised by the appellant nor any question of law framed thereupon. We may only reiterate that the Tribunal has rightly held that such a claim was not admissible on miscellaneous income like sale of import licence, interest, weighbridge income, insurance claim etc. It is rightly disallowed having regard to the judgment of this Court in Cement Distributor Ltd (1994 - TMI - 20126 - DELHI High Court) – Decided against the assessee.
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