9911796707
TMI Blog2009 (8) TMI 58X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee furnished detailed note as also its letter dated 10.12.2002 and 24.3.2003 justifying the allowability of deduction under Section 80IA and which was duly allowed by an order passed under Section 143(3) of the Act, it is clear that there is no basis for initiating proceedings under Section 147/148. – writ petition allowed – notice u/s 148 and assessment order u/s 147 quashed. X X X X Extracts X X X X X X X X Extracts X X X X ..... d at Rs.4,37,450/-, however, the income declared at Rs.2,58,98,479/- under Section 115JB of the Income Tax Act was taken for taxation purposes. 4. It is thereafter that the impugned notice was issued to the petitioner under Section 148 of the Act dated 27.3.2008 and to which by letter dated 21.4.2008, the petitioner company requested the respondent to furnish a copy of the reasons recorded for initiating proceedings under Section 147 of the Income Tax Act. Through the letter dated 29.4.2008, the respondent supplied the reasons recorded to the petitioner company for initiating proceedings under Section 147/148 of the Act. The petitioner by letter dated 22.10.2008, filed the objections to the initiation of the reassessment proceedings on rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hing. In view of the above facts, I have reason to believe that the assessee is not entitled to claim deduction u/s 80IA of the Act, and by claiming the same the income has escaped assessment in the AY 2001-02. Since four years has expired from the end of the relevant years, and security assessment was completed u/s 143(3) of the IT Act., therefore, the statutory approval of the Ld. CIT, Delhi-V, New Delhi is required u/s 151(1) of the IT Act.in the case of the assessee for the said assessment year, the reasons recorded above for the purpose of reopening of assessment is put up for kind satisfaction of Addl. CIT, Range-13, New Delhi in terms of the proviso to Section 151 of the Act. Put up for your kind perusal and forwarding to Ld. Commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 80IA. Copy of this order is placed at pages 196 to 198 of the writ petition. Even in the case of the group company, proceedings were initiated under Section 147 /148 of the Act, and which proceedings were dropped by holding that the activity which was carried on by the group company, and which is similar to the activity as in the present case, was a manufacturing activity. It was therefore contended that there is no ground whatsoever for initiation of proceedings under Section 147/148 of the Act. 7. In response, the counsel for the respondent has basically placed reliance upon the order dated 10.11.2008 passed by the Income Tax Officer under Section 147 of the Act. He has more particularly relied upon the following portion of the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso its letter dated 10.12.2002 and 24.3.2003 justifying the allowability of deduction under Section 80IA and which was duly allowed by an order passed under Section 143(3)(3) of the Act, it is clear that there is no basis for initiating proceedings under Section 147/148. The very fact that deduction has been allowed in the preceding assessment years as also in the subsequent assessment years clearly points to the fact that the assessee was entitled to deduction under Section 80IA. Thus, even on the principle of consistency, there is no reason to disallow the deduction for the subject Assessment Year 2001-2002. In the case of the group company of the assessee which carries on similar activity, similar proceedings were initiated under Sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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