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2019 (1) TMI 544 - HC - Income TaxReopening of assessment - benefit of Tonnage Tax Scheme - scope of business activities carried out by the assessee - Department found that the assessee was not handling the cargo shipping business or movement of cargo and that the activities carried out by the company were merely incidental activities and in absence of the core business activities, the assessee was not entitled to the benefits under chapter XII-G - Held that:- The assessee's nature of activities was fully disclosed during the assessment proceedings. There was no failure on the part of the assessee to disclose any of the material facts. Infact from the note on assessee's nature of business one could gather the precise nature of the activities carried on by the company. There was these clear disclosure on the part of the assessee and the reopening of assessment beyond the period of four years from the end of relevant assessment year could not have been done. Also we must strike down the notice of reopening as assessee's claim of benefits under the chapter XIIG of the Act as is clear from the material on record came up for pointed attention of the Assessing Officer during the original assessment proceedings. It was in this context that the Assessing Officer had raised certain queries including asking the assessee to give full details of its business activities. Thus, the question of the assessee being qualified for the benefits under Chapter XIIG of the Act was scrutinized issue. Without there being any additional material, any attempt on the part of the AO to reopen the assessment would be based on mere change of opinion. - Decided in favour of assessee.
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