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2013 (8) TMI 764 - AT - Income TaxReopening of assessment - Deduction claimed u/s 80IB - CIT held proceeding u/s 147 as valid - Held that:- Assessing Officer having nowhere alleged that income chargeable to tax for the relevant Assessment Year has escaped assessment on account of failure or omission on the part of the assessee to disclose truly and fully all material facts necessary for assessment, the impugned notice u/s 148 issued after expiry of period of four years from the end of the relevant Assessment Year is liable to be quashed - assessee furnished all the details relating to its claim for deduction u/s 80IB of the Act and the Assessing Officer thoroughly examined the claim while framing the assessment u/s 143(3) and on being satisfied the claim was allowed. Therefore, in the present case, reopening of the assessment by issuing notice u/s 148 of the Act is definitely a change of opinion which is not maintainable and therefore, the reassessment framed by the Assessing Officer u/s 147 of by issuing notice u/s 148 of the Act after completing the assessment u/s 143(3) of the Act is not valid - Following decision of Commissioner of Income-tax Versus Steel Tubes of India Ltd. [2010 (1) TMI 406 - MADHYA PRADESH HIGH COURT] - Decided against Revenue.
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