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TMI Blog2015 (6) TMI 847X X X X Extracts X X X X X X X X Extracts X X X X ..... 02-03). 2. The grounds raised in ITA No. 4134/Del/2010 read as under:- (i) Ld. CIT(A) erred in law and on the facts and circumstances of the case, in holding that the reopening of the assessment u/s. 147 of the I.T. Act was incorrect and invalid while the AO reopened the case after due application of mind and following the due procedure or reopening the case. (ii) The appellant craves to amend, modify, alter, add or forego any ground of appeal at any time before or during the hearing of this appeal. 3. The grounds raised in ITA No. 4134/Del/2010 read as under:- (i) On the facts and circumstances of the case and in law Ld. CIT(A) erred in holding that reopening of the assessment u/s. 147 was incorrect and invalid, while the AO reopened ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d deposits for Rs. 13,03,988/- has not been shown as income as per schedule-14 of the audited account. Income of an amount of Rs. 13,03,988/- has escaped assessment on account of interest accrued on fixed deposit, which should be taken as income. 2. The assessee had paid technical assistance fee for Rs. 26,94,333/-. Though technical information acquired by the assessee was to have contributed to benefit of enduring nature end therefore, required to have been treated as capital expenditure. Income of an amount of Rs. 26,94,333/- has escaped assessment as that amount has been paid as technical assistance fee. Since the assessee is deriving a benefit of enduring nature and therefore, should be treated as capital expenditure. 3. The assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he I.T. Act vide order dated 29.10.2009. 5. Aggrieved with the same, assessee filed the Appeal before the Ld. CIT(A) by raising various grounds including challenging the reopening of the assessment u/s. 147 of the Act, who vide impugned orders both dated 2.6.2010 allowed the appeals of both the Assessees on legal issue as well as on merits. 6. Now the Revenue is in appeal before the Tribunal. 7. At the time of hearing Ld. DR relied upon the order passed by the AO u/s. 147/143(3) of the I.T. Act and the contention raised by the Revenue in the Grounds of Appeal. Ld. DR filed a small Paper Book containing pages 1 to 59 in which he has attached the various documentary evidences relating to the assessment record as well as the record of the L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,988/- has escaped assessment on account of interest accrued on fixed deposit, which should be taken as income. 2. The assessee had paid technical assistance fee for Rs. 26,94,333/-. Though technical information acquired by the assessee was to have contributed to benefit of enduring nature end therefore, required to have been treated as capital expenditure. Income of an amount of Rs. 26,94,333/- has escaped assessment as that amount has been paid as technical assistance fee. Since the assessee is deriving a benefit of enduring nature and therefore, should be treated as capital expenditure. 3. The assessee has claimed expenditure for Rs. 40,24,338/- on capital spares consumed (vide assessment order calculation sheet) is of capital nature, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the AO has reopened the assessment merely on the basis of the change of opinion as there was no tangible material available to have reason to believe that income has escaped assessment. In support of his contention, the assessee cited the decisions of the Hon'ble Supreme Court of India in the case of CIT vs. Kelvinator of India Limited in Appeal Nos. 2009-2011 of 2003 and in the case of CIT vs. Foramer France (264 ITR 566) and the decision of the Hon'ble Jurisdictional High Court in the case of Sita World Travels (India) Ltd. vs. CIT (274 ITR 186). 9.4 We have gone through the facts and circumstances of the present case as well as the case laws cited by the Ld. Counsel of the assessee before the Revenue Authorities as well as before u ..... X X X X Extracts X X X X X X X X Extracts X X X X
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