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2012 (6) TMI 107 - HC - Income TaxRe-opening of the concluded assessment - whether the petitioner company is entitled to claim deduction under Section 80IB(10) - writ petition to issue a Writ of Certiorari – assessee contested that the re-opening of the assessment is a case of `change of opinion on a concluded scrutiny assessment - petitioner is a domestic private limited company, engaged in the business of construction of residential/commercial complexes - Held that:- Notice for the re-opening of the assessment has not stated that the petitioner had failed to fully and truly disclose the material facts relevant for the passing of the original assessment order - the petitioner had placed all the relevant records including the construction agreement that he was operating only as a contractor and not as a builder in the light of the explanation to Section 80IB(10) introduced by the Finance Act, 2009 with retrospective effect, from 1.4.2001, it would not be open to the respondent to re-open the assessment before the passing of the original assessment order - thus it is not the case of the respondent that the petitioner had suppressed certain material facts due to which the original assessment order passed by the respondent is liable to be reassessed – in favour of assessee.
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