9911796707
TMI Blog2021 (12) TMI 1492X X X X Extracts X X X X X X X X Extracts X X X X ..... tition for admission of additional grounds of appeal filed under Rule 11 of Income Tax (Appellate Tribunal) Rules, 1963, assessee has submitted that the assessee is challenging the legal issue of jurisdiction under section 147 of the Act, since, against the original assessment order dated 26.12.2008, the assessee preferred an appeal and vide order dated 24.02.2012, the ld.CIT(A) has allowed deduction under section 80IA of the Act to the extent of ₹.14,11,72,786/- as against the claim of ₹.14,28,54,064/-, which was confirmed by the ITAT in an appeal filed by the Revenue in [ 2017 (1) TMI 1830 - ITAT CHENNAI] as well as the Hon ble Jurisdictional High Court vide [ 2019 (4) TMI 861 - MADRAS HIGH COURT] on further appeal, thereby th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 85,871/- made towards foreign exchange fluctuation claimed by the assessee. 2. Brief facts of the case are that the assessee filed its return of income for the assessment year 2006-07 on 20.11.2006 admitting an income of ₹.1,92,24,966/-. The return was processed under section 143(1) of the Act. Subsequently, the case was selected for scrutiny under CASS and assessment was completed on 26.12.2008. From the records, the Assessing Officer noticed that the assessee has claimed excess deduction by including income which would not qualify for deduction under section 80IA of the Act. While giving effect to CIT(A) s order dated 24.02.2012, the total income was determined as ₹.2,60,29,075/-. The case has been reopened under section 147 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ainst the original assessment order dated 26.12.2008, the assessee preferred an appeal and vide order dated 24.02.2012, the ld.CIT(A) has allowed deduction under section 80IA of the Act to the extent of ₹.14,11,72,786/- as against the claim of ₹.14,28,54,064/-, which was confirmed by the ITAT in an appeal filed by the Revenue in I.T.A. No. 1225/Mds/2012 dated 25.01.2017 as well as the Hon ble Jurisdictional High Court vide T.C.A. No. 196 to 201 of 2019 dated 07.03.2019 on further appeal, thereby the issue of eligibility of 80IA relief attained finality. It was further contended that no reason was stated by the Assessing Officer while issuing notice under section 148 of the Act and thus, the reassessment proceedings is bad in law ..... X X X X Extracts X X X X X X X X Extracts X X X X
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