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TMI Blog2022 (3) TMI 1039X X X X Extracts X X X X X X X X Extracts X X X X ..... d 11.07.2018. ITAT has not committed any error of law by dismissing the MA filed for recalling of the consolidated order dated 22.08.2019 disposed of relying on circular No. 03/2018 dated 11.07.2018 - Income Tax Appeal No.87/2021 - - - Dated:- 28-2-2022 - Hon ble Mr. Justice Vivek Rusia And Hon ble Mr. Justice Amar Nath (Kesharwani) For the Appellant : Ms. Veena Mandlik, learned counsel ORDER The appellant, Chief Commissioner of Income Tax (OSD)-1 has filed the present Income Tax Appeal under Section 260A of the Income Tax Act, 1961 against the consolidated order dated 22.08.2019, whereby all the appeals have been disposed of on the ground that the tax effect is below the monetary limit of ₹ 50,00,000/- as per CBDT C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent appeared through its CA along with cash books and ledger etc. After considering the materials, the assessing authority has passed the Assessment order dated 19.11.2009 under Section 143(3) of the Income Tax Act in respect of the assessment year 2007 08. By the above order, the authority has disallowed the part of the deduction of ₹ 79,53,563/- against ₹ 79,92,473/-. 2.3. After the aforesaid final order, the respondent was served with another notice dated 22.01.2013 stating that as to why the deduction under Section 80IA which was earlier allowed by order dated 19.11.2009 be recalled. The respondent submitted a reply on 30.01.2013. After filing the reply, another show-cause notice dated 03.03.2014 issued under Section 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent proceeding as held by the Apex Court in the case of Indian Eastern Newspaper Society (1979) 2 Taxman 197 (SC) and the Gujarat High Court in the case of Adani Developers (P.) Limited (2016) 66 taxmann.com 125 (Guj.) . 2.6. Being aggrieved by the aforesaid order, the appellant preferred an appeal before the ITAT, Indore Bench which was registered as ITA No.379/Ind/2017. During the pendency of the appeal, the Ministry of Finance issued Circular No.03/2018 dated 11th July 2018 fixing the monetary limit for filing of income tax appeal by the Department before ITAT and High Court. Since the monetary limit of pending appeals before the ITAT is ₹ 50,00,000/-, hence, vide consolidated order dated 22.10.2019 learned ITAT has dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e facts and material which includes the Audit Objection available on record ? 2. Whether on the facts and in the circumstances of the case, the ITAT was justified in law in interpreting the facts incorrectly in respect of stand taken by the Revenue before the Hon. High Court on the issue of reopening of assessment based on Revenue Audit Objection and consequently wrongly dismissed the Miscellaneous Application ? 04. The case of the appellant is that if it is a case of reopening of assessment of the respondent of for the assessment year 2007 08 was based on revenue audit objection then Circular dated 11.07.2018 would not apply and appeal No.379/Ind/2017 ought to have been decided on merit instead of dismissing on the ground of mon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same is pasted below:- ANNEXURE A M/s. Sharp Infrastructure Pvt. Ltd. A.Y. 2007 08 The assessment in this case was completed u / s. 143(3) on 19.11.2009 at a total income of ₹ 2,99,660/-. The assessee has claimed deduction u / s.80IA for ₹ 79,92,473/- and was allowed ₹ 79,53,563/-. However, it is revealed that the assessee company has worked as a special project vehicle (SPV) of M / s. Nila Bharat Engineering Ltd., Baroda who was awarded contract of widening and strengthening of a particular stretch of road. As such the work carried out by the assessee was not a new infrastructure facility and therefore does not fulfil the condition of Section 80IA to avail the deduction. Further, assessee has purchased Hy ..... X X X X Extracts X X X X X X X X Extracts X X X X
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