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2013 (3) TMI 563 - ALLAHABAD HIGH COURTRe opening of assessment - notice issued after the expiry of four years - reasons recorded for reopening that an Explanation has been introduced to Section 80-IA vide Finance (No.2) Act, 2009 with retrospective effect i.e. from April 01, 2000 - Held that:- From the reasons recorded, it is apparent that deduction u/s 80-IA would not be admissible to an assessee due to retrospective amendment brought who carries on business which is in the nature of works contract and as such, the petitioner/assessee being engaged in the business of works contract is not eligible for deduction under section 80-IA but the same has been claimed by the assessee, hence, there was reason to believe that income chargeable to tax has escaped assessment for the assessment years under consideration. The record of the case does not in any manner indicate that proceedings under section 147 are sought to be reopened by reason of failure on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment for assessment years under consideration. As to whether or not there is any failure on the part of the assessee in disclosing fully and truly all material facts necessary for his assessment, is a matter of fact and there can be no deemed failure as is sought to be contended on behalf of the respondents - thus notice u/s 148 issued cannot be sustained - in favour of assessee.
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