2013 (10) TMI 218

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Assistant Commissioner of Income Tax is challenging the Judgment and Order passed by the Income Tax Appellate Tribunal, (ITAT) Panaji Bench, Panaji. Whereas in Tax Appeals No.75/2012 and 76/2012, the Assistant Commissioner of Income Tax is challenging the order passed by the ITAT, whereby the ITAT was pleased to hold that the respondent was eligible to get deduction under Section 80IB of the Income Tax Act, 1961 ("Act" for short) for the Assessment Year (AY) 2007-08 and for AY 2008-09. 3. Brief facts which are relevant for the purpose of deciding these four appeals are as under :      The respondent company, Geno Pharmaceuticals Ltd., is a domestic company, engaged in the business of manufacture and sale of pharma....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....imilarly, for the AY 2006-07 also the case was reopened by issuing notice under Section 148 and the reopened proceedings were completed under Section 143(3) read with Section 148 of the Act on 20.12.2010 and the assessee's claim under Section 80IB was disallowed. In respect of both the reopened cases for the AY 2005-06 and 2006-07, the respondent filed appeal before the Commissioner of Income Tax (Appeals), who was pleased to allow the appeal and delete the deduction made by the Assessing Officer on the ground that the new unit set up by the assessee is eligible for the claim under Section 80IB. The Revenue went in appeal before the Hon'ble ITAT. However, ITAT dismissed the appeal by order dated 11th May, 2012 and accepted the new ground wh....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... which it is stated that in a case where an assessee has appeared in any proceedings or co-operated in any inquiry relating to an assessment or reassessment, it shall be deemed that any notice under any provision of the said Act which is required to be served upon him, has been duly served upon him in time in accordance with the provisions of the said Act. Perusal of the order of the ITAT reveals that this aspect was not canvassed before the ITAT. 5. Apart from that, it is an admitted position that no notice under Section 143(2) had been issued while making assessment under Section 143(3) read with Section 147. The Apex Court in the case of National Thermal Power Co. Ltd. v. CIT [1998] 229 ITR 383 has held that the Tribunal has discretio....