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2012 (7) TMI 529 - HC - Income TaxChallenging the reopening of the assessment order passed by AO - justification on the position of an order u/s 245D (4)passed by the Income Tax Settlement Commission [ITSC] - Held that:- Since the exclusive jurisdiction to exercise the powers and perform the functions of an income tax authority in relation to the case vests with the ITSC after an order is passed u/s 245D (1) till the final settlement order is passed u/s 245D (4), it is not possible to countenance a situation where it can be said that the assessee's claim for deduction under Section 80IB (10) was not the subject matter of the order passed by the ITSC u/s 245D (4) - The provisions of Chapter XIX-A suggest that all matters in relation to the case of the assessee shall be dealt with by the ITSC just as an assessing authority would deal with them while completing an assessment u/s 143 (3) and at this position, it would be difficult to sustain the argument of the revenue that the matter relating to the deduction under Section 80IB (10) was not the subject matter of the final order of settlement. It follows that the Assessing Officer had no jurisdiction to reopen the assessment for the assessment year by issuing a notice u/s 148 on the ground that the deduction was wrongly allowed - an assessment by way of a settlement order passed by the ITSC cannot be reopened by a different authority, viz., the Assessing Officer - in favour of assessee.
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