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2018 (2) TMI 1538 - HC - Income TaxReopening of assessment - deduction u/s 80IB(10) allowability - Held that:- There is no allegation by the department that during the year under consideration i.e. the assessment year 2010-2011, the petitioner made any allotment of residential units in breach of conditions. AO as per the reasons recorded wishes to reexamine the petitioner's claim of deduction of ₹ 1.10 crores u/s 80IB(10) for the said assessment year on the premise that that in the assessment year 2013-2014, such claim was rejected since the petitioner had breached condition of not allotting two residential units to husband and wife. In absence of allegation of any of the breaches in the year under consideration, AO wishes to reopen the assessment for the current assessment year. On the simple reason that there was no failure on part of the assessee to disclose truly and fully all material facts, a mandatory condition which must be satisfied before reassessment can be permitted, impugned notice must go. It is not necessary to examine the contention of Shri Varun Patel that for breaches committed in later years, deduction claimed and already granted even if after scrutiny, can be withdrawn. - Decided in favour of assessee.
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