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TMI Blog2024 (2) TMI 1038X X X X Extracts X X X X X X X X Extracts X X X X ..... Deduction u/sec 80IC - disallowing the claim u/s 80-IC(2)(a) in the assessment order passed u/s 143(3) r.w.s 147 as against the same was allowed by his predecessors while passing the Assessment Order u/s 143(3) - HELD THAT:- When a query was raised to Ld.AR to substantiate with the submissions on claim of deduction u/sec 80IC of the Act in lieu of notice U/sec 142(1) of the Act discussed above, made in the original assessment proceedings u/sec 143(3) of the Act , the explanations are not convincing and are not supported with the evidences and similarly the DR also could not express the view on this query. Therefore, considering the principles of natural justice shall provide with one more opportunity of hearing to the assessee to substan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evidence and without considering the facts that the appellant has claimed deduction u/s 80-IC in earlier years and also in this Assessment Year which was allowed as per provision of law. b. The learned CIT(A)NFAC has erred in law and on facts in mis-interpreting the provision of 80-IC for disallowing the appellants claim of deduction. Your appellant craves leave to add, alter and/ or amend the above grounds of appeal. 2. The brief facts of the case that, the assessee company is engaged in the business of trading and manufacturing of electronic balances. The assessee has filed the return of income for the A.Y. 2010-11 on 15.10.2010 disclosing a total income of Rs. Nil after claiming deduction u/s 80IC of the Act of Rs. 39,67,3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed un served with remark Left by the postal authorities. Hence the AO vide order sheet nothing dated 6-03-2016 has called for the additional details from the assessee. Whereas the AO has received some information but the assessee has failed to produce the party for verification. Finally, the AO dealt on the facts and information at Para 4.4 to 4.8 of the order and was not satisfied with the explanations of the assessee and observed that the genuineness of the transactions could not be established and made disallowance of alleged bogus purchases of Rs. 7,69,600/-.On the second issue, the AO has considered the facts and submissions of the assessee on the claim of deduction u/sec 80IC of the Act at Para 5 of the order and called for the deta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect to the information received from DGIT (Inv) on the bogus purchases and not with respect to claim of deduction u/sec 80IC of the Act and it is a merely a change of opinion and the A.O has denied the claim of deduction without any tangible material. The Ld.AR substantiated the submissions with the factual paper book and judicial decisions and prayed for allowing the assessee appeal. Contra, the Ld. DR submitted that the assessee has indulged in alleged bogus purchases and has not furnished the details on the claim of deduction u/sec 80IC of the Act in the assessment proceedings and the Ld.DR relied on the order of the CIT(A). 6. Heard the rival submissions and perused the material on record. In respect of addition of bogus purchas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on in lieu of query and referred to the notice u/sec 142(1) of the Act dated 13.09.2012 at Point No. 33 in respect of your claim of deduction u/s 80IC, furnish form No. 10CCC and submit a detailed note on the fulfilment of conditions for eligibility of deduction u/s 80IC of the Act . The Ld.AR submitted that the assessing officer considered the details filed by the assessee and allowed the claim. Whereas the reassessment proceedings of the A.O are on same set of facts and mere change of opinion and denial of the claim u/sec 80IC of the Act is not tenable. 8. The Ld.AR emphasized that in the A.Y. 2008-09 being first year, the claim of deduction U/sec 80IC of the Act was allowed by the assessing officer and for subsequent years from A.Y. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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