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2016 (9) TMI 111 - HC - Income TaxReopening of assessment - beyond a period of 4 years - Entitlement to deduction under Section 80-IB(8A) - Held that:- Assessing Officer in the order of assessment had disallowed the entire claim of deduction, he had, thereafter, not made any observations with respect to parts of such claim including with respect to the interest income. When the Tribunal was thus examining the entire claim of deduction, it was perhaps open for the Revenue to argue by way of alternative contention that even though the assessee may be entitled to deduction under Section 80-IB(8A) of the Act the same may not be true for the entire claim put-forth by the assessee. Even if while giving effect to the order of the Tribunal, the Assessing Officer had attempted to restrict the claim on any reasonable ground, the situation would have stood on a different ground. However, in the present petition we are examining the validity of notice for reopening of the entire assessment on this ground that too in a case, where the notice has been issued beyond a period of four years from the end of the relevant assessment year. Despite strenuous efforts on part of the counsel for the Revenue, we are unable to see where in a situation like one on hand the condition of failure of true and full disclosure can be done away with when the Assessing Officer has resorted to reopening of the assessment beyond a period of four years.
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