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2023 (12) TMI 414 - HC - Income TaxReopening of assessment - Exemption u/s 11 denied - notice after 4 years from the end of the relevant assessment year - revenue rejected the objections raised by the petitioner primarily on the ground that Form-10 was not submitted by the petitioner before the due date of filing of return u/s 139 (1) - whether factual aspect of late receiving of Form-10 came to the knowledge of the Assessing Officer on a later date and accordingly amounts to new material? - HELD THAT:- Form-10 under Rule 17 of the Rules is required to be filed before the Assessing Officer before he completes the assessment. In a case, where Form-10 is filed late but is filed before the Assessing Officer completes the assessment, benefit of Section 11(2) of the Act shall be available to the assessee. From a reading of impugned notice, and assessment order it appears that the Assessing Officer has paid no heed to the ratio laid down in the judgment of the Supreme Court Nagpur Hotel Owners’ Association [2000 (12) TMI 99 - SUPREME COURT] and various High Courts . Moti Ram Gopi Chand Charitable Trust, Sakal Relief Fund [2013 (12) TMI 609 - ALLAHABAD HIGH COURT]. We, accordingly, have no hesitation in holding that the entire process of reassessment that has been initiated by the Department holds no water and is without any legal basis whatsoever. We quash the notice issued under Section 148 - Decided in favour of assessee.
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