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TMI Blog2025 (1) TMI 283X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessment order passed by the Add. CIT. Special Range -7, New Delhi dated 31.12.2017 under Section 147/143(3) of the Income Tax Act,1961[hereinafter referred as 'the Act'] 2. The assessee has raised the following grounds of appeal: Ground No. 1: That on the facts and in the circumstances of the case and in law, the appeal order passed by learned (Ld. CIT (A)) is bad in law and needs to be quashed. Ground No. 2: That on the facts and in the circumstances of the case and in law, the learned (Ld. CIT (A)), ha erred in confirming the re-assessment proceedings without appreciating the fact that 2.1 Andrei The reassessment was made after expiry of four years without re-course to any fresh and tangible material on record and the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the above grounds are independent and without prejudice to each other. The Appellant craves for leave to add, alter, amend or vary any of the above grounds either before or at the time of hearing. 3. The brief facts of the case are that the assessee is a Joint Venture of Tata Power Company Limited and power Grid Corporation of India limited with 52% and 49% shareholding, respectively. The assessee company has been setup to construct, operate and maintain 1166 kilometers of five 400 KV. double circuit transmission Lines and one 220kv Double Circuit transmission Line from Siliguri in west Bengal to Mandola in Uttar Pradesh under the " Buli-Own- Operation -transfer " BOOT basis. The assessee company commenced the commercial operation of tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 26,21,467/- B/F depreciation of AY 2008-09(b) Rs. 28,76,36,805/- Income from eligible business for the year 2012-13 (a-b) Rs. 74,49 84 662/- Capital gains Rs. 3,52,52,427/- Other Sources Rs. 11,33,18,252/- Total income (a) Rs. 89,35,55,341/- Deduction to be claimed u/s 80IA (Restricted to income from eligible business) Rs. 74,49,84,662/- Taxable Income Rs. 14,85,70,679/- The assessing officer has also started the penalty proceedings against the assessee. 6. Aggrieved the order of the ld. Assessing officer the assessee company has filed the appeal before the Ld CIT(A), who vide his order dated 19-03-2019 dismissed the appeal, against which the assessee is in appeal before the Tribunal. 7. Ld. A.R of the assessee company has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... change of opinion?" 8. In this case, the Hon'ble Delhi High Court further held as under: "22. I find it difficult to assent to the contention of the revenue that section 114(e) of the Evidence Act was incorrectly invoked by the Full Bench of this court in Kelvinator of India (supra). It has been held by the Full Bench that the section applies to an assessment order made under section 143(3) of the Act and the judgment has been affirmed by the Supreme Court. The last word on the subject has been said. The contention cannot even be heard. 23. On the first question referred to this Full Bench as to the meaning of the term "change of opinion", I have nothing to add to the draft proposed. As to the first part of the second question my answ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed principle of law that what cannot be done directly cannot be done indirectly. If the Income-tax Officer does not possess the power of review, he cannot be permitted to achieve the said object by taking recourse to initiating a proceeding of reassessment. In a case of this nature the Revenue is not without remedy. Section 263 of the Act empowers the Commissioner to review an order which is prejudicial to the Revenue. The scope and effect of section 147 as substituted with effect from April 1, 1989, by the Direct Tax Laws (Amendment) Act, 1987, and subsequently amended by the Direct Tax Laws (Amendment) Act, 1989, with effect from April 1,1989, as also of sections 148 to 152 have been elaborated in Circular No.549, dated October 31,1989. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 10. Ld. DR has supported the order of the below authorities and ought the dismissal of the appeal. 11. In the present case, the return of income for the A.Y. 2012-13 of the assessee company was selected for scrutiny and the addition of amounting at Rs 9,07,57,000/- made by the ld. Assessing officer was deleted by the Ld CIT(A). Thereafter, the case of the assessee company was re-opened and notice under Section 148 of the Act was issued. The Assessing Officer re-computed the income under the normal provision of the Act. During the original assessment the assessing company has produced the relevant documents and filed the details of deduction claimed under Section 80 IA of the Act. Perusal of the original assessment order reveals that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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