Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (3) TMI 1124 - AT - Income TaxClaiming deduction under section 80IA - whether each wind mill division is a separate entity is itself - Held that:- Admittedly, while granting relief to assessee on merits, the CIT(A) accepted its argument that each wind mill division is a separate entity is itself and option of claiming deduction under section 80IA rests with the assessee. From the statement of facts filed by the Revenue, it is noticed that its mere argument is that against the decision of the hon’ble jurisdictional high court, special leave petition before the apex court is pending. In our view, merely because the Revenue’s special leave petition is pending does not form a valid ground to adopt a different approach in the impugned assessment year in absence of any distinction on facts being pointed out. In assessment year 2004-05 (supra) the issue has travelled upto the ‘tribunal’ and stands decided in assessee’s favour. Assessee eligibility for deduction under section 80IA confirmed. Reopening of assessment - Held that:- In the course of arguments, we have asked the Revenue to point out any failure on assessee’s part by way of placing cogent material on record and the same is nowhere forthcoming. Thus, we agree with the findings of the CIT(A) and observe that since there is no failure on assessee’s part in disclosing fully and truly all particulars of income for claiming deduction under section 80IA, the Assessing Officer could not have reopened the assessment after four years from the end of the impugned assessment year. Decided in favour of assessee.
|