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2016 (10) TMI 547 - GUJARAT HIGH COURTValidity of eopening of assessment - deduction issue of section 80IB(10) - Held that:- with regard to this deduction issue of section 80IB(10) of the Act, on earlier occasion, the Assessing Officer has thoroughly examined the eligibility aspect of the petitioner. The scrutiny assessment has taken place under section 143(3) of the Act and in final order on 17.02.2006 after considering the material on record, the deduction is made available to the petitioner to the extent of ₹ 1,83,17,435/- and therefore, the deduction issue has been at threadbare level examined by the Assessing Officer in scrutiny assessment. It is also emerging from the record that action which is sought to be initiated is beyond the period of four year and looking to the reasons which have been reflected from page 67 of the petition compilation, the only reason for reopening of assessment is an insertion of explanation to section 80IB(10) of the Act with retrospective effect from 01.04.2001 and reasons indicate that there is no element of any nondisclosure on the part of the petitioner. It is also appearing from the record that in response to the query which has been raised by the respondent authority, the petitioner has provided adequate material related to the development work which was undertaken by the petitioner and the petitioner has tried to justify his claim by furnishing necessary documents including the agreement, profit and loss account as well as audit report. The said material has also been examined in detail in past at the time when scrutiny assessment has taken place Reopening is admittedly beyond the period of four years and there is no element of non disclosure material facts on the part of the petitioner, we are of the opinion that the action impugned is not permissible and therefore, in view of above situation, the impugned action is invalid and we hereby quash and set aside the same and accordingly, the impugned notice dated 12.03.2010 as also the order dated 21.12.2010 are quashed and set aside. - Decided in favour of assessee
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