TMI Blog2022 (3) TMI 905X X X X Extracts X X X X X X X X Extracts X X X X ..... d that has escaped assessment. As noted earlier in the assessment order this amount is already added to the income. When these facts were brought to the notice of JAO in the objection dated 26.11.2021 fled through petitioner s Chartered Accountant in the order dated 24.01.2022 impugned in this petition, disposing petitioner s objection JAO has conveniently chosen not to deal with the submissions of petitioner on merits. - Decided in favour of assessee. - WRIT PETITION NO. 1379 OF 2022 - - - Dated:- 16-3-2022 - K.R. SHRIRAM N.R. BORKAR, JJ. Mr. Dharan V. Ghandi for the Petitioner. Mr. Suresh Kumar for the Respondents. P.C. 1] Petitioner received notice dated 30.03.2021 issued under section 148 of the Income Tax Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee. The summary of assessees submissions are as under: After fling of the return of income, the assessee company had received the order of approval of weighted deduction u/s 35(2AB) in Form 3CL from DSIR in respect of R D expenses. Only after the perusal of the said order, the assessee company came to know that the DSIR had approved only an amount of ₹ 289.25 lacs towards capital and revenue expenditure eligible for 200% deduction as against the amount claimed by the assessee company at the time of fling return of income. The details submitted were as follows. S.NO. Nature Amt. claimed by the assessee Amt. Approved by DSIR Differ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 of the assessment order reads as under: 7. In view of above discussion, it is clear that assessee has failed to fulfil the condition as stipulated u/s 35(2AB) for claiming the excess weighted deduction of ₹ 31,32,852/- in the absence of approval from DISR. Therefore, the claim of excess weighted deduction u/s. 35(2AB) of the I.T. Act amounting to ₹ 31,32,852/- is disallowed added back to the total income of the assessee. Penalty proceedings u/s.271(a)(c) of the Act are initiated for fling inaccurate particulars of income. 6] In computation of income in paragraph 8 of the assessment order, Disallowance after excess weighted deduction under section 35(2AB) of the Act of ₹ 31,32,852 has been added to the income o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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