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TMI Blog2017 (1) TMI 930X X X X Extracts X X X X X X X X Extracts X X X X ..... evenue urges the following substantial questions of law for our consideration : "(i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding the initiation of reassessment proceedings as bad in law and consequently cancelling the reassessment completed by the Assessing Officer under Section 143(3) r/w Section 147 of the I.T. Act without appreciating the fact that the reassessment proceeding was not initiated merely on the change of opinion but was initiated on the basis of the facts of the case and as per the provisions of the Act. (ii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in allowing the assessee's claim of deduction und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pass an order under Section 143(3) r/w 147 of the Act, holding that on merits, the respondent assessee is not entitled to the benefit of deduction under Section 80IB(8A) of the Act. (c) Being aggrieved, the respondent assessee filed an appeal to the Tribunal. By the impugned order, the Tribunal held that the reopening notices were without jurisdiction as it emanates from a change of opinion. The impugned order holds that orders passed during the regular assessment proceedings under Section 143(3) of the Act are presumed to have been passed by the Assessing Officer on application of his mind to the claim of deduction during the regular assessment proceedings. Thus, a fresh application of mind on the same set of facts being a change of opin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, the reopening notices issued for the subject assessment years are without jurisdiction as they are founded upon a change of opinion. (f) Accordingly, question (i) as proposed does not give rise to any substantial question of law. Thus, not entertained. 4. Regarding question (ii) : (a) This question in the present facts became academic. This for the reason that the question (i) raising the issue of jurisdiction to reassess the respondent assessee has been decided against the Revenue and in favour of the respondent assessee. Thus, no occasion can arise to the authorities under the Act to re-examine the claim for deduction under Section 80IB(8A) of the Act made by the respondent assessee. (b) Accordingly, question (ii) as proposed is no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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