Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (8) TMI 1334 - HC - Income TaxReopening of assessment u/s 147 - deduction under Section 10A(1) denied - as per assessee he filed the statutory form in Form 56FS - HELD THAT:- We were of the opinion that a genuine mistake had occurred when the assessee submitted Form 56FS. However, on a closer reading of the factual aspects, we find that the month and year of commencement furnished by the assessee are correct except for the date, as instead of 06.10.1997, it has been mentioned as 03.10.1997. Therefore, the theory of mistake committed while submitting Form 56FS deserves to be outrightly rejected. We have perused the scrutiny assessment under Section 143(3) of the Act, from which, we find that there is absolutely no discussion nor there is anything to indicate that the Assessing Officer, while completing the scrutiny assessment on 04.10.2011, had taken into consideration these facts and more particularly the date, from which, the assessee is entitled to claim the benefit under Section 10A. Re-assessment is within four years and under Section 147 AO has got powers to assess and re-assess. This aspect was elaborately gone into by the Assessing Officer while completing the re-assessment and subsequently by the CIT(A) by re-appreciating the factual position and once again by the Tribunal by further re-appreciating the factual position and noting the provisions of Section 10A of the Act as they stood during the period 1997-98 to 1999-2000 and the amendment made to Section 10A of the Act vide the Finance Act, 2000. Thus, we find that the entire issue revolves around the factual matrix and that there is no substantial question of law arising for consideration in this appeal.
|