9911796707
TMI Blog2019 (9) TMI 1262X X X X Extracts X X X X X X X X Extracts X X X X ..... f proceedings u/s 147 of the Act. On perusal of the assessment order, it is noted that nowhere the AO discussed about the objections raised by the assessee and without considering the same proceeded to reopen the assessment, is bad in law. Assessee filed all the details such as audited accounts, tax audit report u/s 44AB and required documents for claim of exemption u/s 10A of the Act in the original assessment proceedings itself and having accepted the same, the Assessing Officer cannot reopen the same assessment again by recording that the income has escaped by virtue of being making a wrong claim. It is also noted from the record that from Assessment Year 2001-02 to 2009-10, the claim u/s 10A of the Act were allowed except Assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the income escaped assessment. In the original assessment proceedings, the assessee filed all the details relating to the issue on hand regarding the claim of exemption u/s 10A of the Act. The assessee raised objections regarding the reasons recorded and the Assessing Officer without passing express order on objections raised regarding the reopening of assessment in respect of reasons recorded, the ld. AR argued that the Assessing Officer on mere change of opinion reopened the assessment and the assessment made thereon is not maintainable in law. The assessee challenged the validity of reassessment and the CIT(A) without examining the record confirmed the order of Assessing Officer regarding the validity of reopening of assessment. The ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en the same assessment again by recording that the income has escaped by virtue of being making a wrong claim. It is also noted from the record that from Assessment Year 2001-02 to 2009-10, the claim u/s 10A of the Act were allowed except Assessment Year 2007-08 which is under consideration before us. Therefore, it is clear that the Department of Revenue has been granting deduction u/s 10A to the assessee in earlier assessments as well as in subsequent assessments. Therefore, as discussed above, there was no new tangible material was brought on record by the Assessing Officer and in the absence of which the Assessing Officer is not entitled to reopen the assessment and it is merely a change of opinion. The reassessment completed u/s 143(3)/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
