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2011 (11) TMI 445 - HC - Income TaxReopening - Time limitation - The petitioner claimed deduction under section 80IA(10) of the Income Tax Act, 1961 for the assessment year 2004-05 - it is significant to note that the Assessing Officer did not hold that the assessee was not entitled to deduction under section 80IA of the Act at all - In the reasons recorded, there is not even an allegation that any income chargeable to tax has escaped assessment on account of the assessee failing to disclose truly and fully all material facts for such assessment - learned counsel for the Revenue submitted that the assessee was acting only as a contractor and not as a developer and by virtue of the amendment to section 80IA(10) of the Act, the assessee was not entitled to claim any deduction - Decided in favor of the assessee
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