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TMI Blog2025 (1) TMI 817X X X X Extracts X X X X X X X X Extracts X X X X ..... 71 - GUJARAT HIGH COURT ] it cannot be said that this is a fit case to reopen the assessment in the facts of the case. Petition succeeds and is accordingly allowed. Impugned order passed u/s 148A (d) as well as notice are hereby quashed and set aside. - HONOURABLE MR. JUSTICE BHARGAV D. KARIA AND HONOURABLE MR. JUSTICE D.N. RAY Appearance: For the Petitioner(s) No. 1: Mr Manish J Shah (1320). For the Respondent(s) No. 1: Karan G Sanghani (7945). ORAL JUDGMENT (PER : HONOURABLE MR. JUSTICE BHARGAV D. KARIA) 1. Heard learned advocate Mr. Manish Shah for the petitioner and learned Senior Standing Counsel Mr. Karan Sanghani for the respondent. 2. Rule returnable forthwith. Learned Senior Standing Counsel Mr. Karan Sanghani waives service of n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tive Milk Marketing Federation Limited. The petitioner filed return of income on 29.09.2015 claiming deduction u/s. 80P of the Income Tax Act,1961 [for short the Act ] of Rs. 4,34,26,046/-. 5.2 The case of the petitioner was selected for scrutiny assessment by issuing notice u/s. 143 (2) of the Act dated 24.09.2016. Thereafter, notice u/s. 142 (1) dated 16.11.2016 was issued whereby various details have been called for. 5.3 The Assessing Officer, after considering the various details filed and submissions made by the petitioner, passed an assessment order u/s. 143(3) dated 02.05.2017 assessing total income at Rs. 3,30,30,840/-. 5.4 Subsequently, the petitioner received a notice u/s. 148 dated 29.06.2021 stating that income has escaped asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Assessing Officer during the course of the regular assessment proceedings and all details with regard to claim were furnished in the original claim proceedings and the expenses of Rs. 4,32,00,000/- debited to P L account being dairy plant infrastructure has already been disallowed while filing the original return of income. 5.8 The respondent Assessing Officer passed the order dated 22.07.2022 under section 148A (d) of the Act along with notices under section 148 of the Act of the same date. Being aggrieved, the petitioner has preferred this petition. 6. Learned advocate Mr. Manish Shah submitted that so far as the issue of alleged expenses of Rs. 4,32,00,000/- debited to P L account is concerned, the said issue has been accepted by the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the decision of this Court in case of Ashwinkumar Arban Co-operative Society. Ltd. (supra). 8. Considering the submissions made by learned advocates for the respective parties and in the facts and circumstances of the case, when the issue which is sought to be raised for disallowance of the deduction claimed by the assessee under section 80P (2) (d) of the Act which is on the interest income earned by the petitioner from the fixed deposit kept with the Cooperative Bank is held in favour of the petitioner of this Court in case of Ashwinkumar Arban Co-operative Society Ltd (supra), it cannot be said that this is a fit case to reopen the assessment in the facts of the case. 9. In view of the foregoing reasons, the petition succeeds and is a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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