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2017 (3) TMI 899 - RAJASTHAN HIGH COURTReopening of assessment - Entitled for tax deduction under Section 80IB - Held that:- Commissioner of Income Tax-II, Jodhpur vs. M/s PTM Industries, Balotra (2015 (3) TMI 1264 - RAJASTHAN HIGH COURT) affirmed the order passed by the Income Tax Appellate Tribunal upholding the grant of deduction to the assessee PTM Industries (one of the petitioners herein) under Section 80IB of the IT Act for the assessment years 2005-2006, 2007-2008 and 2008-2009. Since for the assessment years preceding and following the questioned assessment year, the issue has already been decided in favour of the assessee, this Court is of the firm opinion that the assessing officer was not at all justified in reopening the matter by exercising the powers under Section 148 of the IT Act. The impugned orders apart from being totally perverse and laconic, also suffer from total non-application of mind and also amount to colourable exercise of power and thus, cannot be sustained. - Decided in favour of assessee
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