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2015 (7) TMI 800 - AT - Income TaxReopening of assessment - disallowance of deduction u/s.80HHC - Held that:- Respectfully following the ratio laid down in the judgement(s) of the Hon’ble High Court of Gujarat in the case of Rajesh Babubhai Damania vs. ITO reported at (2000 (6) TMI 5 - GUJARAT High Court ) and Ramgosri Constructions (P.)Ltd. vs. ITO, [2008 (11) TMI 73 - MADRAS HIGH COURT ] we proceed to decide that in the original assessment order placed at page Nos.90 to 108 of the paper-book, the AO in para-5 of its order decided this issue of deduction u/s.80HHC of the Act we are of the considered view that it is not the case where the material was not available with the AO and AO has not applied his mind in the case under appeal. Therefore, we hold that the reopening of the assessment is made on the basis of change of opinion only as the ld.counsel for the assessee has demonstrated from the records that all information/details were available with the AO and the AO has applied his mind on the allowability of deduction u/s.80HHC and computation of book profit. Therefore, order under appeal is set aside and assessment framed u/s.143(3) read with section 147 is quashed being invalid. - Decided in favour of assessee.
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