TaxTMI 
TaxTMI 
TaxTMI 
2016 (12) TMI 1557
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....g today. [[3.0] By way of this petition under Article 226 of the Constitution of India the petitioner has prayed for an appropriate writ, order or direction to quash and set aside the impugned notice under Section 148 of the Income Tax Act by which the Assessing Officer has sought to reopen the assessment for the Assessment Year 2010-11 beyond the period of four years. [4.0] The facts leading to the present Special Civil Application in a nutshell are as under; [4.1] The petitioner - assessee filed the return of income for the Assessment Year 2010-11 claiming deduction under Section 80IA of the Income Tax Act of Rs. 59,72,279/- in respect of windmill division in computation of income accompanying the return. At this stage, it is required ....
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....sessing Officer supplied the reasons recorded, which reads as under; "In this case, an order under Section 143(3) of the I.T. Act was passed on 22/03/2013 determining total income at Rs. 62,58,79,806/-. 2. On verification of records, it is noticed that the assessee had claimed deduction under Section 80IA of the I.T. Act in respect of three Windmills situated at Bhogat. The assessee had claimed deduction at Rs. 59,72,279/-. While finalizing the assessment the claim of the assessee was disallowed to the extent of Rs. 14,17,630/-. 3. As per sub Section (7) of Section 80IA the deduction under 80IA is not admissible unless the accounts of the undertaking relevant to the Assessment Year for which the deduction claimed have been audited by a....
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....he claim of the deduction under Section 80IA has been wrongly allowed. This has resulted into under assessment of income to that extent. 5. In view of the above discussion, I have reasons to believe that income chargeable to tax has escaped assessment for the above mentioned assessment year within the meaning of Section 147 of the I.T. Act. Therefore, this is a fit case for issue of notice u/s.148 of the I.T. Act. 6. Issue notice u/s.148 of the I.T. Act." [4.2] Thereafter, the petitioner - assessee submitted detailed objections against reopening of the assessment for the Assessment Year 2010-11 beyond four years, which have been disposed of by the Assessing Officer against the petitioner - assessee. Hence, the petitioner - assessee ha....
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....he Income Tax Act, the Assessing Officer is not justified in assessing the jurisdiction beyond four years. Making the above submissions, it is requested to allow the present petition. [6.0] Shri Pranav Desai, learned Counsel appearing on behalf of the revenue has tried to oppose the present petition, however, is unsuccessful in view of the fact that on the very ground and with respect to the similar claim for Assessment Year 2012-13 the Assessing Officer granted deduction under Section 80IA of the Income Tax Act, which was taken under suo motu revision by the Commissioner under Section 263 of the Income Tax Act and considering the decision of the Division Bench of this Court in the case of Sabarkantha District Co-operative Milk Producers U....
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.... Act. However, the learned Commissioner considering the decision of the Division Bench of this Court in the case of Sabarkantha District Co-operative Milk Producers Union Ltd. (Supra) ordered to drop the proceedings under Section 263 of the Income Tax Act by which the Division Bench of this Court in the case of Sabarkantha District Co-operative Milk Producers Union Ltd. (Supra) has held that deduction under Section 80IA Income Tax Act cannot be denied solely on the ground that separate Profit & Loss Account and balance sheet are not produced, if otherwise the petitioner - assessee is entitled to deduction under Section 80IA of the Income Tax Act. In that view of the matter on the very ground /reasons, but with respect to another assessment ....