Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (1) TMI 1003 - GUJARAT HIGH COURTReopening of assessment - deduction under section 80IB (10) claimed - Held that:- Considering the reasons recorded to reopen the assessment for the A.Y. 2010-2011 and even considering the material on record, more particularly facts narrated in the speaking order disposing of the objections, it is not the case on behalf of the revenue that during the year under consideration i.e. A.Y. 2010-2011 and 2011-2012, there was any violation and/or breach of any of the conditions of section 80IB(10) of the Act. At the relevant time and during the years under consideration i.e. A.Y. 2010- 2011 and 2011-2012 when the assessee claimed deduction under section 80IB(10) of the Act with respect to the units for which deduction under section 80IB(10) of the Act was claimed, the same was in order and there was no allegation with respect to those units for which deduction under section 80IB(10) of the Act was granted and/or there was no breach of any of the conditions of section 80IB(10) of the Act. During the years under consideration when the assessee claimed deduction under section 80IB(10) of the Act with respect to the units sold during the years under consideration, the same was found to be in order. Therefore, the same cannot be withdrawn for any act or omission on the part of the assessee in the subsequent assessment year. Thus, it cannot be said that there was any failure on the part of the assessee in not disclosing true and correct facts necessary for the assessment for the years under consideration i.e. A.Y. 2010-2011 and 2011-2012. Therefore, assumption of jurisdiction under section 147 of the Act to reopen the assessment beyond the period of four years is without authority of law and as such contrary to section 147 of the Act. - Decided in favour of assessee
|