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2015 (9) TMI 1640 - AT - Income TaxReopening of assessment - receipt as sales tax benefit under the power policy of the State Government for installing windmills in the Maharashtra State - Sales Tax benefit is not an income derived from the business of the industrial undertaking, allowing the same resulted in excess deduction u/s. 80IA which in turn resulted in short levy of tax - Held that:- Reasons for the reopening of the completed assessment have been duly considered by the AO while making the original assessment order. Therefore, it is clear that no new facts have come to the notice of the AO for reopening a completed assessment. In so far as the claim of the Revenue that sales tax subsidy has no direct nexus with the business of the assessee has already been decided by the Tribunal in assessee’s own case [2015 (9) TMI 1639 - ITAT MUMBAI] wherein the Tribunal has held that the amount of sales tax subsidy is directly arising from the business of the assessee, therefore, the decision in the case of CIT Vs Kelvinator of India Ltd. [2010 (1) TMI 11 - SUPREME COURT OF INDIA] and the decision CIT Vs ICICI Bank Ltd. [2012 (7) TMI 521 - BOMBAY HIGH COURT] have been correctly relied upon by the Ld. CIT(A). We, therefore, do not find any reason to interfere with the findings of the Ld. CIT(A). - Decided against revenue
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