2014 (7) TMI 858

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....IT. ORDER Per S. S. Godara, Judicial Member These assessee's appeals for assessment years 2003-04 and 2004-05; emanate from a common order dated 12.12.2013 passed by the Commissioner of Income Tax (Appeals)-II, Chennai in ITA Nos.430 & 431/2013-14 in proceedings under section 143(3) r.w.s 147of the Income Tax Act 1961 [in short the "Act"]. 2. At the outset, both parties point out that ....

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....er dated 30.11.2006 reduced this demand to F.12,85,056/-. Subsequently, the Assessing Officer formed an opinion based on reasons to believe that since assessee's windmills had commenced operations in assessment year 1995-1996, its claim of deduction u/s. 80IA could not be considered from assessment year 2000-2001. So, he issued a sec. 148 notice dated 9.10.2009. On 13.12.2010, he framed re-assessm....

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....pellate proceedings, it raised three folded arguments i.e. challenged validality of reopening u/s. 147, claim of deduction on the issue of 'initial assessment year' as well as the brought forward losses and depreciation. The CIT(A) has rejected all of the assessee's grounds and affirmed the Assessing Officer's findings. Therefore, the assessee has filed this appeal. 5. It is to be seen from ....