TMI Blog2016 (12) TMI 1557X X X X Extracts X X X X X X X X Extracts X X X X ..... come Tax Act. In that view of the matter on the very ground /reasons, but with respect to another assessment year now it is not open for the Assessing Officer to reopen the assessment for the Assessment Year 2010-11 on the ground that the petitioner – assessee did not submit separate Profit & Loss Account and the balance sheet while claiming deduction under Section 80IA of the Income Tax Act. The Assessing Officer was not justified in allowing the deduction under Section 80IA of the Income Tax Act to the extent of ₹ 45,54,649/- The aforesaid issue is now concluded by the Division Bench of this Court, and therefore, on the aforesaid ground /reasons, the Assessing Officer is not justified in reopening the assessment for the Assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cturing outfits (i) manufacturing electronic appliances and (ii) other windmill division generating power. Subsequently, the Chartered Accountant of the petitioner assessee addressed a letter dated 22/10/2012 to the Assessing Officer in response to the notice under Section 142(1) of the Income Tax Act enclosing the computation of income, statutory audit report, tax audit report under Section 44AB of the Income Tax Act and the audit report under Section 80IA of the Income Tax Act in Form No.10CCB. It is the case on behalf of the petitioner assessee that alongwith the said documents, the petitioner assessee also annexed the Profit Loss Account and the balance sheet, which were part of the statutory audit report and thereafter the Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e I.T. Rules further ordains that the assessee shall furnish alongwith his return of income, the report of such audit in the prescribed from No.10CCB duly signed and verified by a Chartered Accountant which shall accompany the Profit Loss account and balance sheet of the eligible undertaking as if the undertaking were a distinct entity. In the case of CIT Vs. Shivanand Electronic (209 ITR 63) (Bombay) it was held that no duty is cast on the Assessing Officer to ask an assessee who has failed to file the audit report before rejecting his claim for relief. 4. On verification of the records, it is seen that the assessee has not submitted separate Profit Loss Accounts and balance sheet of the undertaking relevant to the Assessment Y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the present Special Civil Application under Article 226 of the Constitution of India for the aforesaid reliefs. [5.0] Shri J.P. Shah, learned Counsel appearing on behalf of the petitioner assessee has vehemently submitted that the impugned notice under Section 148 of the Income Tax Act and reopening of the assessment for the Assessment Year 2010-11 on the grounds stated in the reasons recorded is not sustainable and is not tenable at law. It is submitted that similar benefit was given to the petitioner assessee under Section 80IA of the Income Tax Act for the Assessment Year 2012-13, which was subsequently taken under suo motu revision under Section 263 of the Income Tax Act and having been satisfied that there is no requirement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Producers Union Ltd.(Supra) and having been satisfied that there is no such requirement that for claiming benefit under Section 80IA of the Income Tax Act the petitioner assessee must produce separate Profit Loss Account if otherwise the petitioner assessee is entitled to, and therefore, the Commissioner dropped the proceedings under Section 263 of the Income Tax Act. In that view of the matter, he has requested to pass appropriate order. [7.0] Heard the learned advocates appearing on behalf of the respective parties at length. At the outset, it is required to be noted that the assessment for the Assessment Year 2010- 11 is sought to be reopened beyond the period of four years. The only reason recorded while reopening the assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to another assessment year now it is not open for the Assessing Officer to reopen the assessment for the Assessment Year 2010-11 on the ground that the petitioner assessee did not submit separate Profit Loss Account and the balance sheet while claiming deduction under Section 80IA of the Income Tax Act. The Assessing Officer was not justified in allowing the deduction under Section 80IA of the Income Tax Act to the extent of ₹ 45,54,649/- The aforesaid issue is now concluded by the Division Bench of this Court, and therefore, on the aforesaid ground /reasons, the Assessing Officer is not justified in reopening the assessment for the Assessment Year 2010-11 that too beyond four years. Under the circumstances, on the aforesaid grou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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