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2022 (2) TMI 34 - AT - Income TaxReopening of assessment u/s 147 - disallowance of claim of the assessee u/s 80IA - HELD THAT:- The original assessment proceedings, Assessing Officer has not disputed the deduction under section 80IA of the Act,rather he disputed quantum of deduction. That is, assessing officer has nowhere stated that assessee is not eligible for deduction under section 80IA of the Act. The audit report may be filed at the time of making the assessment. We note that assessee company has claimed deduction under section 80IA for assessment year 2010-11 and for assessment year 2012-13, respectively. The audit report has been filed by the assessee during the course of assessment proceedings. The assessee`s books of accounts has been audited and subject to Tax Audit Report. The books of accounts have not been rejected by AO and assessee made compliance of provisions of section 80IA of the Act. The assessee had not considered the interest paid on loan taken for wind mill machinery; therefore deduction under section 80IA was rectified by assessee suo moto and hence claimed lower deduction under section 80IA of the Act. Based on this factual position, we allow both appeals of the assessee. The assessing officer is directed to allow deduction under section 80IA for assessment year 2010-11 and for assessment year 2012-13.Since, we have adjudicated both these appeals taking into account the peculiar facts of the assessee`s case, therefore it is made clear that instant adjudication shall not be treated as a precedent in any preceding or succeeding assessment year. - Decided in favour of assessee.
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