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2020 (1) TMI 222 - HC - Income TaxReopening of assessment u/s 148 - whether the impugned proceedings are barred by limitation - primary and material particulars as far as deduction u/s 80IA - HELD THAT:- In the present case, the petitioner has, admittedly, not defaulted in the filing of a return of income. Thus, the only condition to be satisfied by the revenue would be the establishment of the fact that there has been a failure by the assessee to make a full and true disclosure of material particulars. Adverting to paragraph 8 of this order setting out the reasons for re-assessment, I note that items (i) and (ii), have, admittedly, been considered by the Commissioner of Income Tax in his order under Section 263 dated 26.03.2010 and thus, it does not lie in the mouth of the Department to state that material particulars in regard to those two issues were not available on record. As far as deduction under Section 80IA, is concerned, a perusal of the proceedings commencing from the filing of return of income by the petitioner would reveal that all material particulars in respect of the claim under Section 80IA were available on file. If at all the Officer was of the view that the materials had been incomplete or did not support the claim adequately, it was for the Authority to have taken action in that regard even at the first instance and not by way of re-assessment. It is also relevant to state that the reasons for re-assessment commence with the phrase 'upon an examination of the return of income and other enclosures'. Thus, the proceedings for re-assessment are initiated based wholly on the materials available on record only and this is an admitted position. Proceedings for re-assessment are barred by limitation. I draw support in this regard on a judgment of the Supreme Court in the case of Assistant Commissioner of Income Tax, Mumbai and Others Vs. ICICI Securities Primary Dealership Ltd [2012 (8) TMI 754 - SC ORDER] wherein, the Bench holds that the extended period of limitation cannot be availed by the Department when all primary particulars were, admittedly, available on file. Grant of depreciation on imported car, I find that this issue has not been challenged and the re-assessment on this score is thus confirmed. The writ petition is allowed to the extent indicated above.
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