9911796707
TMI Blog2017 (1) TMI 1003X X X X Extracts X X X X X X X X Extracts X X X X ..... question of law and facts arise in both these petitions and as such both the petitions are with respect to common assessee but with respect to different Assessment Year, both these petitions are heard, decided and disposed of together by this common judgement and order. 4.00. By way of Special Civil Application No. 19049 of 2016 under Article 226 of the Constitution of India, petitioner assessee has prayed for appropriate writ, order and/or direction to quash and set aside the impugned notice issued under section 148 of the Income Tax Act, 1961 (hereinafter referred to as "the Act" for short), by which the assessment for A.Y. 2010-2011 is sought to be reopened in exercise of powers under section 147 of the Act. 4.01. Special Civil Applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 30/3/2016, which reads as under :- "In the assessment year 2013-14 it is seen that the assessee claimed deduction u/s.80IB(10) of the Act for its housing scheme "Laxmi Residency". During the course of assessment proceedings, it is found that the conditions of section 80IB(10) of the Act were grossly violated by the assessee firm. Hence, deduction of Rs. 4,26,90,669/- claimed u/s.80IB(10) of the Act has been withdrawn for the A.Y. 2013-14 and brought under the purview of tax regime. The findings by the AO during the course of proceedings are as under : "1. The assessee firm violated the clause (e) by allotting more than one residential (dwelling unit) allotted to one individual. 2. The assessee firm violated the clause (f) by allo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Senior Advocate has appeared on behalf of the assessee and Mr.Sudhir Mehta, learned counsel has appeared on behalf of the revenue. 8.00. Mr.J.P. Shah, learned Senior Advocate appearing on behalf of the assessee has vehemently submitted that in the present case, the assessment for A.Y. 2010-2011 and 2011- 2012 are sought to be reopened beyond the period of four years. It is submitted that there is no failure on the part of the assessee in not disclosing true and correct facts. It is submitted that from the reasons recorded to reopen the assessment for the A.Y. 2010-2011, it appears that the same has been reopened on the basis of the events which had taken place in the year 2013-2014. It is submitted that during the years under consideratio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing more than one residential / dwelling unit to one individual and it was also found that the assessee firm violated clause (f) by allotting two residential units to the individual and his spouse. It is submitted that it was also found by the A.O. during the course of the assessment for A.Y. 2013-2014 that the assessee firm also violated clause (c) by combining two units into one unit and the clubbed units were allotted to two or more members of the same family. It is submitted that therefore, when it was found by the A.O. during the course of the assessment proceedings for A.Y. 2013-2014 that the conditions of section 80IB (10) of the Act are grossly violated by the assessee firm and deduction claimed by the assessee section 80IB(10) of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had taken place during the year 2012-2013. Therefore, it cannot be said that there was violation and/or breach of any of the conditions on the part of the assessee in not disclosing true and correct facts necessary for assessment for the years under consideration i.e. A.Y. 2010-2011 and 2011-2012. It appears that deduction claimed under section 80IB(10) of the Act with respect to units sold during the relevant years i.e. A.Y. 2010-2011 and 2011- 2012 is now sought to be withdrawn on the subsequent transfer of a unit which has taken place in the subsequent assessment year i.e. A.Y. 2013-2014. During the years under consideration when the assessee claimed deduction under section 80IB(10) of the Act with respect to the units sold during the y ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
