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2022 (1) TMI 654 - HC - Income TaxReopening of assessment u/s 147 - absence of registration u/s 12A - whether Tribunal’s order can be said as perverse in law in quashing reassessment order by merely relied upon proviso to Section 12A(2) of the Act and Circular No.1 of 2015 to quash the re- assessment order ignoring materials on record and factual matrix of the case? - HELD THAT:- On combined reading of the aforesaid provisions with the Circular vis-à-vis the material facts of the case, it cannot be gainsaid that the case on hand would not fall under any of the exceptions carved out in the provisos as contemplated under Section 12A(2) of the Act. Moreover, the interpretation given by the authorities to the Circular issued by the CBDT not being justifiable, the Tribunal has rightly held that the provisos to Section 12A(2) of the Act are applicable to the case on hand. Reasons would indicate that the only reason for reopening of assessment is the absence of registration under Section 12A of the Act. Further, the assessee has not filed return of income for the assessment year in question. A finding has been recorded on the facts of the case by the Tribunal on this aspect and the allegation that the assessee was claiming deductions under Sections 11 and 12 of the Act is held to be against the facts available on record. Having regard to these factual aspects and the provisos to Section 12A(2) of the Act, we are of the considered view that the findings recorded by the Tribunal cannot be held to be perverse or arbitrary. We find no substantial questions of law arising for our consideration.
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