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2020 (8) TMI 749 - AT - Income TaxReopening of assessment u/s 147 - deduction u/s 80IB denied - mandation of obtaining the approval of CIT under section 151 - case was re-opened after 4 year from the end of relevant Assessment Year - case was re-opened after 4 year from the end of relevant Assessment Year - plea of additional evidence - HELD THAT:-Considering the facts that we have already accepted the plea of assessee on application for allowing for filing additional evidence. We affirms the view of CIT(A) that while obtaining the approval of CIT u/s 151 the assessing officer has clearly held that there was failure on the part of the assessee in disclosing fully and truly all the material facts. Hence, the grounds No. 1 to 3 is decided against the assessee. Deduction of various components of income under section 80IB - assessee in its application for admission of additional evidence has accepted that the interest income as a part of profit and other income as a part of profit derived by eligible undertaking was not before lower authorities and that the assessee could not file details of other income because these were old record and on account of merger of assessee with other group companies, records were not easily traceable, which we have accepted. No documentary evidences except the details of the chart is furnished before us, therefore, these grounds of appeal are restored back to the file of assessing officer to decide the issue afresh after verification of facts and evidences in accordance with law. The assessee is also directed to furnish the evidence to substantiate its claim. In the result these grounds of appeal are allowed for statistical purpose.
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