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2018 (2) TMI 1214 - HC - Income TaxReopening of assessment - claim of deduction u/s 10B - Held that:- The claim was u/s 10B and as per clause (3) of the provision, deduction claimed had to be of amounts which is brought into the Country, within six months from the close of the previous year. The previous year ended on 31-03-2005 and the assessee ought to have brought in the amounts prior to 30-09-2005, unless extended by the Reserve Bank of India as provided under Explanation to sub-section (3). If such extension has not been granted, definitely, there is a suppression in so far as the assessee having filed return, presumably, only after closure of the previous year, which is long after the date prescribed in sub-section (3) for bringing the amounts into the Country. Re-assessment proposed, within the six year period is perfectly in order, if the said amounts have not already been disallowed in the original assessment order itself. We hence direct that in the re-assessment proceedings, the specific contention raised by the assessee as to the deduction to the extent of US$ 1,23,691/- having already been carried out in the original assessment order is to be verified. The re-assessment having been initiated on the specific ground, it should be confined to that ground alone. The assessee shall be afforded an opportunity of hearing and the exercise shall be completed within a period of three months from the date of receipt of certified copy of the judgment. With the above observations and modifying the judgment of the learned Single Judge, to the limited extent of the directions herein above, we dispose of the Writ Appeal.
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