2015 (10) TMI 1015

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.... This Appeal under Section 260-A of the Income Tax Act, 1961 (the Act), challenges the order dated 30th January, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order relates to Assessment Year 2003-04. 2. The Revenue urges the following substantial questions of law for our consideration: "(a) Whether in the facts and circumstances of the case and in law, the ....

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.... Assessing Officer on 30th March, 2010 issued a notice under Section 148 of the Act, seeking to reopen the Assessment for A. Y. 2003-04. The Respondent-Assessee challenged the validity of the reopening of the assessment as well as the proposed denial of deduction under Section 80IB(10) of the Act before the Assessing Officer during the reassessment proceedings. The Assessing Officer did not accept....

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....ppeal by the Revenue, the Tribunal by the impugned order upheld the order of the CIT(A) on both issues. It held that reopening of assessment by issuing notice dated 30th March, 2010 under Section 148 of the Act was without jurisdiction. Further, it also held on merits that the RespondentAssessee was entitled to the benefit of deduction under Section 80IB(10) of the Act for the subject Assessment Y....

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....as of the Tribunal holding that: (i) the entire exercise of issuing a reopening notice and passing of reassessment Order was not justified; and (ii) on merits, the authorities have held that same stands concluded in favour of the RespondentAssessee by the decision of this Court in Brahma Associates (supra). 8. In view of the settled position of law that reopening notice as in this case ca....