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2017 (1) TMI 1106 - HC - Income TaxReopening of assessment - claim under Section 80IA unseen - Held that:- It is required to be noted that the assessee companies running two business (1) Electronic Appliances Division and (2) Power Generation Division. It appears that during year under consideration, the assessee claimed benefit under Section 80IA of the Act of ₹ 56,22,625/in respect of power generation income from Windmill Division at Bhogat. However, submitting return and claiming deduction under Section 80IA of the Act, the assessee did not debit any financial charges and administrative expenses to the Windmill Division. Also appears that in the profit and loss account, the assessee had not debited any administrative expenses and financial charges while computing profits from Windmill Division. It has been noticed by the Assessing Officer that the assessee ought to have apportioned the administrative expenses and financial charges of ₹ 10,83,692/on its windmill unit at “Bhogat, on which, it claimed the deduction under Section 80IA of the Act. Under the circumstances, it cannot be said that the assessee disclose true and correct facts necessary for assessment, more particularly with respect to deduction under Section 80IA of the Act, more particularly, with respect to windmill unit at Bhogat. Thus it cannot be said that the impugned notice under Section 148 to reopen the assessment for AY 200910 can be said to be without jurisdiction and / or contrary to the provision of Section 147 of the Act. Under the circumstances, present petition challenging the impugned notice under Section 148 of the Act deserve to be dismissed - Decided against assessee.
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