Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (5) TMI 1144 - AT - Income TaxReopening of assessment u/s 147 - change of opinion - disallowance of the assessee’s claim for deduction u/s. 80IB(10) - HELD THAT:- As per the mandate of law, even where a concluded assessment is sought to be reopened by the A.O within a period of 4 years from the end of the relevant assessment year, it is must that the A.O has fresh material or information with him, that had led to the formation of belief on his part that the income of the assessee chargeable to tax has escaped assessment. As case of the assessee had been reopened by the AO on the basis of a mere change of opinion and not on the basis of any fresh tangible material coming to his notice after culmination of the original assessment, therefore, finding no infirmity in the view taken by the CIT(Appeals) who had rightly observed that the reopening of a concluded assessment of the assessee on the basis of mere ‘change of opinion” is not sustainable in the eyes of law, uphold his order to said extent. Disallowance of deduction u/s. 80IB(10) - declining of such claim of deduction qua the charges received by the assessee for provision of various facilities, i.e., pipelines, electricity and stilt parking facilities - We are of the considered view, that as observed by the CIT(Appeals), and rightly so, now when the provision of the aforesaid facilities forms part and parcel of the approval of “Nagar Niyojan Avam Vikas” Raipur vide “Anugya”, dated 23.01.2004, of the housing project in question and, the assessee in terms of the approval of his project was obligated to provide such services, therefore, the same would be eligible for deduction u/s. 80IB(10) - Decided in favour of assessee.
|