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2016 (9) TMI 1445 - AT - Income TaxAssessment u/s 153A - disallowances of the retention money - claim was not made in its original return filed u/s 139(1) - Held that:- Assessee had offered the retention money year after year on mercantile basis and assessments framed accordingly - Without the existence of any incriminating materials found during the course of search with regard to the issue of retention money, we are of the considered opinion that the assessments framed already should not be disturbed in section 153A proceedings - relying upon the decision of Hon’ble Calcutta High Court in the case of CIT vs Veerprabhu Marketing Ltd [2016 (8) TMI 813 - CALCUTTA HIGH COURT] - in the case of regular assessment, the change in stand could be taken by the assessee - thus grounds raised by the assessee in its appeals are dismissed. Deduction u/s 80IA (4) eligibility - whether assessee is a developer or a contractor - Held that:- no incriminating materials found during the course of search which would enable the ld AO to take a different stand with regard to the status of the assessee (whether a developer or contractor) - also the claim of deduction u/s 80IA of the Act has been accepted by the revenue u/s 143(3) proceedings and there is no reason to disturb the same in section 153A proceedings without there being any incriminating materials - hence assessee has to be treated only as a developer in the facts and circumstances of the case and not merely as a works contractor, thereby eligible for deduction u/s 80IA - thus ground of revenue is dismissed.
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