9911796707
TMI Blog2014 (5) TMI 938X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Assessing Officer under section 144 r.w.s. 147 of the Income Tax Act, 1961 dated 31.12.2010 wherein the deduction under section 80IB(10) of the Income Tax Act, 1961 claimed by the assessee at Rs.35,03,447/- was disallowed by the Assessing Officer. 2. On the facts and in the circumstances of the case, and in law, the ld. CIT(A) erred in holding the reassessment proceedings as invalid and cancelling assessment proceedings without appreciating the fact that the assessee has also not raised this issue before the Assessing Officer during assessment proceedings nor in the Ground of Appeal before CIT(A)." 2. In this case the original return of income was filed on 25.11.2003 declaring total income at "nil". Deduction u/s. 80IB(10) was c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he deduction allowed in the original return assessed. Aggrieved by this the assessee carried the matter before he CIT(A). 6. Before the CIT(A) it was strongly contended that the assessment was already completed u/s. 143(3) on 28.03.05 therefore, if the AO wanted to reopen the assessment after four years from the end of the assessment year, he ought to have obtained the approval of the CIT or the CCIT as per the proviso to section 151(1) of the Act. It was pointed out that the assessment had been reopened with the approval of the additional CIT Range 25(2), Mumbai. Therefore, the reassessment proceedings are invalid. After carefully considering the facts and the submissions and also after perusing the records , CIT(A) observed as under:- " ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edings u/s. 148 was not justified and there was no failure on the part of the assessee to disclose the material facts fully and truly. Aggrieved by this, the revenue is before us. 7. The DR could not bring any evidence in support of the grievance of the revenue to show that the approval was taken from the CCIT/CIT before issue of notice u/s 148 of the Act. As no such evidence has been brought on record before us, after carefully perusing the assessment order and the order of the CIT(A), we find that the notice issued was undisputedly with the approval of the Joint CIT Range 25(2), Mumbai. Section 151(1) read as under: "In a case where an assessment under sub- section (3) of section 143 or section 147 has been made for the relevant assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X
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