TMI Blog2018 (2) TMI 1538X X X X Extracts X X X X X X X X Extracts X X X X ..... 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Patel that for breaches committed in later years, deduction claimed and already granted even if after scrutiny, can be withdrawn.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. - Special Civil Application No. 23178 of 2017 - - - Dated:- 21-2-2018 - MR. AKIL KURESHI AND MR. B. N. KARIA, JJ. For The Petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Shri Gauttambhai Kantibhai Patel and Smt. Bhavanaben Gauttambhai Patel are husband and wife. As per the provisions of section 801B(10) of the act, the amount of deduction in the case of an undertaking developing and building housing projects approved before the 31st day of March by a local authority shall be hundred per cent of the Profits derived in the previous year relevant to any assessment year from such housing project if, ...... .. ( e) not more than one residential unit in the housing project is allotted to any person not being an individual; and ( f) in case where a residential unit in the housing project is allotted a person being an individual, no other residential unit in such housing project is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 8018(10) of the Act. In the instant case, the assessee has contravened the provisions of clause (f) subclause (i) to section 801B(10) of the Incometax Act, 1961. Therefore, the deduction u/s 80lB(10) of the Act claimed by the assessee is to be disallowed. Hence, in view of the above, I have reason to believe that the income to the extent of Rs. L,10,93,121/has escaped assessment for the A.Y. 201011 by reason the failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment within the meaning of section 147 of the Act and I am satisfied that the case is a fit one for issuance of notice u/s. 148 of the Incometax. 4. Counsel for the petitioner submitted that the notice of reopenin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessing Officer as per the reasons recorded wishes to reexamine the petitioner's claim of deduction of ₹ 1.10 crores under section 80IB( 10) of the Act for the said assessment year on the premise that that in the assessment year 20132014, such claim was rejected since the petitioner had breached condition of not allotting two residential units to husband and wife. In other words, in absence of allegation of any of the breaches in the year under consideration, the Assessing Officer 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 a mandatory condition which must be satisfied before reassessment c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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