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2013 (3) TMI 329 - HC - Income TaxRe opening of assessment - non-eligibility of deduction u/s 80IA - Held that:- As decided in assessees own case in NTPC LTD. Versus DCIT & OTHERS [2013 (1) TMI 219 - DELHI HIGH COURT] the entire process of generation of electricity, both by the gas turbine unit and the steam turbine unit, has been explained by the petitioner in great detail in the assessment proceedings which has been taken notice of by the AO. Also in this case it was not as if it was a fact or a figure hidden in some books of accounts which the AO could have, with due diligence, discovered but had not done so. Therefore, this is not a case where the assessee/ petitioner can be said to have failed to disclose fully and truly all material facts necessary for assessment. Petitioner had paid tax on the generation income by grossing up the rate of tax instead of grossing up the income. The rate of grossed up tax is 62.60162% as against the normal rate of 38.50% [35% tax + 10% surcharge] - By virtue of either method, the total tax payable by NTPC, as per the assessment order would come to same. Therefore, this is a clear case where no income has escaped assessment - in favour of assessee.
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