Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (4) TMI 392 - AT - Income TaxReopening of assessment u/s 147 - Disallowance of deduction u/s 80IB - hospital building was completed by March 2012 and hence viewed that the assessee has not satisfied the conditions for grant of deduction u/s 80IB(11C) for the Assessment year(AY) 2012-13 - HELD THAT:- Reopening of assessment was on the basis of information that was already available on record and no fresh information was received by the AO. Revisiting the same issue which was already considered in original assessment and taken the decision amounts to difference of opinion and on difference of opinion the reopening of assessment is not permissible. AO mentioned in the assessment order that the assessee had claimed deduction u/s 80IB and filed Form No.10CCBC instead of 10CCBD. The Ld.AR submitted that there was no material difference in both the forms with regard to information and columns are the same. The AO in the original assessment did not raise any objection for submission of 10CCBC and there was no difference with regard to information to be furnished in Form 10CCBC or 10CCBD, hence it was purely a mistake or misunderstanding. DR also did not controvert the submission of the assessee with regard to difference of information in 10CCBC or 10CCBD. The AO had accepted the 10CCBC and allowed the deduction in original assessment. This Tribunal in assessee’s own case [2017 (6) TMI 1038 - ITAT VISAKHAPATNAM] following the order of Sri S.Venkatesh [2013 (6) TMI 715 - ANDHRA PRADESH HIGH COURT] held that denying deduction u/s 80IB(11C) on technical issue is unjustified. Hence we, hold that the reopening of assessment is bad in law and accordingly, we quash the notice issued u/s 148 and annul the assessment made u/s 147 r.w.s 143(3) dated 26/12/2017 and allow the appeal of the assessee.
|