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2016 (10) TMI 404 - GUJARAT HIGH COURTReopening of assessment - claim of deduction under section 80IB(10) - Held that:- The action initiated by the authority is beyond the period of four years from the end of relevant assessment year. It is also emerging from record that there is no allegation of any nature that the petitioner has not truly or fully disclosed all material facts related to deduction section 80IB(10) of the Act and in absence of any such element, we feel it necessary not to allow the respondent authority to reopen the assessment. we notice that this very claim of deduction under section 80IB(10) was at threadbare examined during a scrutiny assessment and a specific claim has been allowed. Even further pursuant to a query which has been raised at the relevant point of time also, a cogent explanation has also been given and from the reasons which have been recorded, there is no element of nondisclosure on the part of the petitioner in any manner, and therefore, considering this overall set of circumstance and keeping in mind the ratio laid down by consistently three different decisions reproduced herein above, it appears that the reopening of assessment is not justified beyond a period of four years from the end of relevant assessment year. Hence, we are of the opinion that action on the part of the respondent authority is impermissible and we accordingly quashed and set aside the impugned notice as well as order dated 16.12.2010 for rejecting the objection. - Decided in favour of assessee.
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