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2015 (8) TMI 469 - HC - Income TaxValidity of reopening of assessment - exemption claimed under Section 10AA - revision u/s 263, Held that:- Once having participated in the reassessment proceedings without challenging the notice under Section 148 of the Act and thereafter reassessment proceedings are dropped and thereafter a show-cause notice has been issued by the Commissioner taking the reassessment order [which is a one line order] under revision, in such facts and circumstances of the case, it is not open for the petitioner now to challenge the notice under Section 148 of the Act. As observed hereinabove, it is nothing but a malafide and an afterthought. Therefore, in the facts and circumstances of the case, petitioner now cannot be permitted to challenge the notice under Section 148 of the Act. As observed hereinabove, in the first year i.e. AY 2007-08, the Assessing Officer accepted the return accepting the exemption under Section 10AA of the Act claimed by the assessee and sent the intimation under Section 143(1) of the Act, without any discussion on the issue / exemption under Section 10AA of the Act claimed by the assessee. As the same was allowed in the first year which was without any discussion at all and it was an intimation under Section 143(3) of the Act, in the subsequent years the Assessing Officers have mechanically allowed the exemption under Section 10AA of the Act claimed by the assessee. That does not mean that the exemption under Section 10AA of the Act allowed by the Assessing Officers in the first year, which was allowed without any further discussion and/or without applying any mind, cannot be reopened. The same can always be permitted to be reopened, however subject to the conditions being fulfilled under Section 147 of the Act. Under the circumstances, on the aforesaid ground, the notice under Section 148 of the Act cannot be quashed and set aside. However, as observed hereinabove, as such it is not open for the petitioner now to challenge the notice under Section 148 of the Act in the facts and circumstances of the case narrated hereinabove. - Decided against assessee.
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