Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (2) TMI 1856 - AT - Income TaxReopening of assessment u/s 147 - HELD THAT:- We find that there is no dispute about the factual position, as very well documented in the orders of the authorities below, that the reassessment proceedings were initiated on 14.03.2013 which was well within four years from the end of the assessment year and it was thus not really required of the AO to demonstrate assessee’s failure in true and full disclosure of all material facts necessary for assessment. CIT(A) was thus clearly swayed by irrelevant considerations. We, therefore, vacate the conclusions arrived at by the CIT(A) on this point. Ground No.1 is allowed. Entitlement for claim of deduction u/s 10B - HELD THAT:- Issue is covered, in favour of the assessee, by a series of binding judicial precedents including by Hon’ble jurisdictional High Court’s judgement in the case of PCIT vs. Zealous Web Technologies[2016 (4) TMI 255 - GUJARAT HIGH COURT]. Once it is not in dispute, as the position is before us, that conclusions arrived at by the CIT(A) are in harmony with the binding judicial precedents, we see no reasons to interfere in the matter. The order of the CIT(A), granting relief on merits, is confirmed and approved. In effect thus our reversing the order of the CIT(A) on the reopening issue is of no practical use to the appellant, and the success on that point ends up being a hollow success. The relief granted to the assessee on merits was justified. - Decided in favour of assessee.
|