2011 (9) TMI 123

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....gra and B.V. Balaram Das for the Respondent. JUDGEMENT 1. Heard learned counsel on both sides. 2. Leave granted. 3. In the present case, the assessee had claimed deduction under section 80-IA of the Income Tax Act, 1961, ['Act', for short, which was allowed by the Assessing Officer. However, the Commissioner of Income Tax ['CIT' for short] passed an order under Section 263 of the Act, the effe....

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....ave petition. On 5th January, 2011, the Court permitted the Department to proceed with reassessment without prejudice to the rights and contentions of the parties. We are informed that the Assessing Officer has reassessed and passed a fresh order on 5th May, 2011. This time, he has disallowed the claim for deduction under Section 80-IA of the Act. 5. In the peculiar facts and circumstances of the....