TMI Blog2016 (11) TMI 1562X X X X Extracts X X X X X X X X Extracts X X X X ..... of assessment (refer Indian and Eastern Newspaper Society v. CIT, (1979 (8) TMI 1 - SUPREME COURT), Xerox Modicorp Ltd. v. DCIT, (2013 (1) TMI 160 - DELHI HIGH COURT) and CIT v. Lucas TVS Ltd.(2000 (12) TMI 102 - SUPREME COURT). In the circumstances, the audit report could not have been the sole basis for reopening the concluded assessment for AY 2008-09. - Decided in favour of assessee - W.P. (C) 1182/2016 - - - Dated:- 7-11-2016 - Mr. S. Ravindra Bhat And Ms. Deepa Sharma JJ. For the Petitioner : Mr. C.S. Aggarwal, Sr. Advocate with Mr. Prakash Kumar and Ms. Mehvish Khan, Advocates. For the Respondent : Mr. P. Roychoudhuri, Sr. Standing Counsel. ORDER The re-assessment proceedings issued under Section 143 and 147 ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ack only ₹ 27,72,469/- instead of ₹ 1,38,62,346/-. Thus an amount of ₹ 1,10,89,877/- has escaped assessment. Further verification of records, it is observed that the assesse had claimed deduction u/s 10A on ALTI and ADI units amounting to ₹ 1,56,81,85,516/- in the computation of taxable income whereas the total deduction u/s 10A should have been allowed to ₹ 1,55,75,07,036 (57,29,77,895 + 98,45,29,141) as shown in the computation of taxable income (unit wise). Thus, excess deduction of ₹ 1,06,78,480/- u/s l0A was claimed by the assesse. Total deduction u/s 10A on Alcatel Lucent Technologies India Ltd. (ALTI) and Alcatel Development India Pvt. Ltd. (ADI) comes to ₹ 1,55,75,07,036/- instead of &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uch as it became part of the new entity which had amalgamated four other companies. The new assessee, therefore, filed the revised return and underwent scrutiny assessment under Section 143 (3). As is evident from re-assessment notice, the Assessing Officer wishes to reopen the concluded scrutiny assessment based upon a satisfaction that income to the tune of `83,71,12,726/- had escaped assessment, attributable to the assessee s non-disclosure of material facts. This Court has considered the contentions of the parties. The petitioner urges that in the absence of any tangible material, the AO could not have issued a reassessment notice as it virtually amounts to change of opinion. The revenue, on the other hand, relies upon the audit repo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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