2016 (6) TMI 836

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....his appeal, the first and the foremost issue raised by the assessee is by way of additional Grounds of appeal, which read as under: "1. On the facts and in the circumstances of the case & in law, the proceedings initiated by issuance of notice u/s 148 of the I.T. Act, is invalid and bad in law. 2. On the facts and in the circumstances of the case & in law, the assessment order passed u/s 143(3) r.w.s. 147 of the I.T. Act, is invalid and bad in law." 3. At the time of hearing, the learned representative for the assessee pointed out that the aforesaid grounds were inadvertently not raised originally but the same involved a pure point of law and goes to the root of the matter and, therefore, they may be admitted for adjudi....

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....2, after recording reasons, and reopened the assessment on the ground that the deduction u/s 80IB(10) of the Act was wrongly allowed. In the ensuing assessment finalized u/s 143(3) r.w.s. 147 of the Act dated 31.12.2013 the Assessing Officer denied the deduction claimed u/s 80IB(10) of the Act and assessed the total income at Rs. 7,74,122/-. The assessee-firm carried out the matter in appeal before the CIT(A), who affirmed the stand of Assessing Officer that the assessee was not eligible for claim of deduction u/s 80IB(10) of the Act. 6. Before us, the assessee-firm had assailed the order of CIT(A) on the merits of the claim as well as on a point of law contending that the proceeding initiated by issuance of notice u/s 148 of the Act was....

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.... 9. Factually speaking, in the present case the assessment year involved is 2006-07 and the original assessment u/s 143(3) of the Act was completed on 31.12.2008. The notice u/s 148 is dated 17.9.2012 which is beyond the period of 4 years from the end of the relevant assessment year. Therefore, the instant fact-situation is covered by sub-section (1) of section 151 of the Act read with the proviso, which prescribes that where assessment has been made u/s 143(3) of the Act and the notice u/s 148 is to be issued after the expiry of 4 years from the end of the relevant assessment year, no such notice shall be issued unless the 'Principal Chief Commissioner' or 'Chief Commissioner' or 'Principal Commissioner' or 'Commissioner' is satisfied, ....