TMI Blog2014 (3) TMI 1124X X X X Extracts X X X X X X X X Extracts X X X X ..... nue’s special leave petition is pending does not form a valid ground to adopt a different approach in the impugned assessment year in absence of any distinction on facts being pointed out. In assessment year 2004-05 (supra) the issue has travelled upto the ‘tribunal’ and stands decided in assessee’s favour. Assessee eligibility for deduction under section 80IA confirmed. Reopening of assessment - Held that:- In the course of arguments, we have asked the Revenue to point out any failure on assessee’s part by way of placing cogent material on record and the same is nowhere forthcoming. Thus, we agree with the findings of the CIT(A) and observe that since there is no failure on assessee’s part in disclosing fully and truly all particulars o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oming as to who represents the assessee. In these circumstances, we reject this petition and proceed ex-parte to decide the appeals on merits. 4. First we take up ITA No.116/Mds/2014. The assessee; a company engaged in the business of manufacturing of paper and generation of power. On 22.11.2006, it had filed its return declaring an income of K3,66,15,563/-. Vide order dated 10.6.2008, the Assessing Officer had framed regular assessment making addition of K1,00,000/- towards repairs expenses. 5. As the case file reads, the Assessing Officer thereafter formed reasons to believe that assessee s income liable to be taxed had escaped assessment on the ground that it had set off loss of windmill unit III (K2,04,146/-) against the pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ismissed and the reopening is held to be in order. 6.1. Coming to the merits of the case, it is seen that the assessee has several windmill divisions and in this year while claiming deduction u/s 80IA it has not set off of the losses from Wind Mill Farm Division IV. The Assessing Officer s argument is that the deductions should be claimed after the set off of the loss from the other wind mill divisions, whereas the assessee s claim is tht the each wind mill divisions is a separate entity by itself and the option of claiming deduction u/s 80IA lies with the assessee. The assessee has also quoted the case of Sri Velayudhasamy Spinning Mills Pvt. Ltd (231 CTR368) (Madras) rendered by the jurisdicitional High Court. On perusal of the facts o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /Mds/2014 is dismissed. 8. Now, we come to ITA No.117/Mds/2014. The relevant facts are that after framing reassessment vide order dated 30.12.2011(supra), the Assessing Officer issued another reopening notice dated 31.03.2012. The assessee had claimed deduction under section 80IA of K1,51,88,550/- stated to be in respect of its turbine division. Per Assessing Officer manufacturing in paper involves various processes constituted into a separate division (turbine division) with the use of FBC boilers and steam turbine instead of old boilers and pressure reduction valve to recover energy in the steam and the energy recovered by way of electricity and recycled in the paper division had given rise to aforesaid receipt. In re-assessment finali ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... izing regular assessment. Under 1st proviso to 147, it is necessary to point out failure on an assessee s part in disclosing fully and truly all particulars of income in case of reopening after four years from the end of relevant assessment year. In the assessment order, no such reason is forthcoming. The CIT(A) has taken note of this crucial feature. In the course of arguments, we have asked the Revenue to point out any failure on assessee s part by way of placing cogent material on record and the same is nowhere forthcoming. Thus, we agree with the findings of the CIT(A) and observe that since there is no failure on assessee s part in disclosing fully and truly all particulars of income for claiming deduction under section 80IA, the Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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