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2014 (3) TMI 28 - HC - Income TaxValidity of Notice u/s 148 of the Act Reassessment of income after four years - Claim of deduction u/s 80IB and 80JJA of the Act allowed by the AO - Held that:- The assessee specifically claimed the deduction under section 80JJA of the Act which has been allowed by the AO on due application of mind - Even with respect to claim under section 80IB of the Act, the claim was made by the petitioner - Relying upon Sri Krishna(P.) Ltd. v. ITO 1996 (7) TMI 2 - SUPREME Court] and Sowdagar Ahmed Khan v. ITO [1967 (11) TMI 10 - SUPREME Court] - assessee and the same has been dealt with and considered by the AO and thereafter, after due application of mind, the AO has allowed the said claims thus, it cannot be said that there was any concealment and/or non-disclosure of true and correct facts by the assessee - the original assessment is sought to be reopened in exercise of powers under section 147/148 of the Act on change of opinion by the AO, which is not permissible more particularly when the original assessment is sought to be reopened after a period of four years from the end of the assessment year - the conditions stipulated under first proviso to section 147 are not satisfied thus, the notice deserved to be set aside Decided in favour of Assessee.
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