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2015 (9) TMI 231 - HC - Income TaxReopening of assessment - whether the Tribunal erred in holding that the issue of notice u/s 148 was bad in law as the proceedings initiated were merely on the change of opinion? - whether the facts that the issue of completion of project was never before the Assessing Officer in the course of proceedings u/s 143(3) and the Assessing Officer, in the original assessment order u/s 143(3) had not formed any opinion about the completion of the project? - Held that:- The impugned order of the Tribunal records the fact that the assessment orders passed in regular assessment proceedings in the subject assessment years has held that conditions laid down in Section 80IB(10) of the Act had been fulfilled by the respondent-assessee. This itself presupposes that the order of assessment passed in the two subject assessment years had applied its mind to the eligibility of the respondent-assessee to the benefit of deduction under Section 80IB(10) of the Act. The impugned order of the Tribunal cannot be found fault with. Moreover, the impugned order merely records a finding of fact which is evident from the order of the Assessing Officer passed in regular assessment proceedings for the two subject years. This finding of fact is not shown to be perverse or arbitrary. Thus the question as formulated does not give rise to any substantial question of law. - Decided against revenue.
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