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2017 (9) TMI 1026 - AT - Income TaxReopening of assessment - eligibility deduction under section 80 IB - Held that:- CIT(A) has categorically held that assessee’s investment in plant and machinery is below the specified limit and therefore it is entitled to deduction under section 80 IB of the income tax act. It was further held by him that in earlier years. The deduction has not been disturbed and therefore the eligibility conditions of the assessee are satisfied. Ld. departmental representative could not point out any infirmity in the order of the Ld. CIT(A) before us with respect to deduction under section 80IB claimed by the assessee. He also could not controvert that investment in plant and machinery of the assessee is higher than the prescribed limit. In view of this we do not find any infirmity in the order of the Ld. CIT(A), in allowing the appeal of the assessee by allowing the relief under section 80 IB On reopening issue Before us no arguments were advance by the Ld. authorised representative. With respect to the same and we have also perused the order of the Ld. CIT(A), wherein this particular argument with respect to the jurisdiction was also not challenged. In view of this we are not inclined to accept the claim of the assessee against the jurisdiction assumed by the assessing officer. In view of this we dismiss the cross objection of the assessee. Validity of assessment under section 144C - TPA - period of limitation - need for draft assessment order - Held that:- It is an admitted fact that Ld. Transfer Pricing Officer has not proposed any variation to the arm’s length price of the international transactions entered into by the assessee. Therefore, the right course of action for the Ld. assessing officer was to pass an assessment order under section 143(3) of the Income Tax Act and not to pass the draft assessment order. The above issue is squarely covered in favour of the assessee by the decision of the Hon’ble Delhi High Court in case of ESPN STAR SPORTS MAURITIUS S. N. C. ET COMPAGNIE(Now Known as Ess Advertising (Mauritius) S. N. C. ET Compagnie) [2016 (4) TMI 45 - DELHI HIGH COURT ] The final assessment order passed by the Ld. assessing officer is beyond the limitation period which should have been passed on or before 31st. December 2012, but was passed on 16/12/2013. In the result ground No. 1 of the appeal of the assessee is allowed and the assessment order passed by the Ld. assessing officer is quashed.
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