TMI Blog2020 (2) TMI 1399X X X X Extracts X X X X X X X X Extracts X X X X ..... al facts necessary for those assessment, for that assessment year. It is incumbent on the respondent to pass appropriate order terms of the 1st proviso to Section 147. Mere retrospective amendment to Section 80 IB of the Income Tax Act, 1961 is of relevance. Since the dispute pertains to the assessment year 2004-05, the respondent is requested to pass appropriate orders within a period of three months from date of receipt of a copy of this order. While passing such order, liberty is also given to the respondent to proceed on any other grounds, other than the ground on which the subject notice under Section 148 of the Income Tax Act, 1961 was issued in terms of Explanation 3 to Section 147 of the Income Tax Act, 1961. - W.P.No.28580 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an order dated 30.9.2009 pursuant to hearing held on 22.7.2009 and 3.8.2009. The issue regarding deduction under Section 80 IB(10) was thus discussed and disallowed vide order dated 30.9.2009. 5. It is further submitted that the petitioner preferred an appeal against both the order dated 24.3.2009 of the Commissioner of Income Tax passed under Section 263 of the Income Tax Act, 1951 and the consequential order dated30.9.2009 of the assessing officer giving effect to the said order of the Commissioner of Income Tax before the Income Tax Appellate Tribunal and the Commissioner of Income Tax (Appeals) respectively 6. The order dated 24.3.2009 of the Commissioner of Income Tax passed under Section 263 of the Income Tax Act, 1951 was set a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 147 of the Income Tax Act, 1961. It is submitted that the Tribunal did not have an occasion to consider issue regarding eligibility of the deduction under Section 80 IB of theIncome Tax Act, 1961 from the point of view of the retrospective amendment made to Section in the year 2009 with effect from 2001 and therefore the respondent was entitled to re-open the assessment. 11. It is further submitted that this Court in its order dated in W.P.No.28457 of 2008 and W.P.No.19260 of 2009 following the decision of the Honourable Supreme Court has held that the proceedings initiated for reassessment cannot be quashed at the threshold and it is open for the petitioner to produce records to satisfy the authorities that there was no necessity for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Section 147 of the Income Tax Act, 1961, powers of the assessing officer is circumscribed by the limitation prescribed under proviso to aforesaid section. Such officer cannot reopen the assessment if there was true and full disclosure of information required for the purpose of assessment and merely because there is a subsequent amendment to the provision, the power to reopen the assessment cannot come to the rescue of the revenue. This is evident from a reading of the language of the 1st proviso to Section 147 of the Income Tax Act, 1961 as per which no action shall be taken after the expiry of 4 years from the end of the relevant assessment year, unless income chargeable to tax has escaped assessment for such assessment year by reason o ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
