2017 (3) TMI 899

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....mmon questions of facts and law and is thus being decided by this single order. Facts in brief :- The petitioners herein are regular income tax assessees involved in the business of manufacturing of finished cloth after the process of bleaching, dyeing, printing and padding. (5 of 9) The petitioners industrial undertakings are located in Balotra town of District Barmer which is a backward area and thus, the petitioners claim themselves to be entitled for tax deduction under Section 80IB of the Income Tax Act, 1961 (for short, 'the IT Act'). The petitioners further claim that as they satisfy all the requisite conditions stipulated under Section 80IB of the IT Act and thus, the concerned assessing authorities conducted assessment of the....

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....the process should be more than 20. The petitioners filed detailed objections against the reasons recorded by the assessing authority and sought annulment of the notices issued to them under Section 148 of the IT Act claiming that the activity of bleaching, dyeing, printing etc. was covered in the definition of manufacture as held in numerous judgments of the Hon'ble Supreme Court and that number of minimum workers required for claiming the benefit of deduction under Section 80IB was only ten. The petitioners further claimed that mere change of opinion would not entitle the assessing authority to reopen the proceedings and sought dropping thereof on the ground of lack of jurisdiction and colourable exercise of power. However, the objections....

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....notices is available to the petitioners who can very well contest the matter before the assessing authority who if satisfied is competent to drop the same and thus, the writ petitions should be dismissed as being pre-mature and not maintainable. However, Shri Bhandari could not dispute the fact that the controversy decided by the Division Bench in the cases of M/s PTM Industries (referred to supra) is on all fours applicable to the case at hand. The deduction under Section 80IB of the IT Act afforded to M/s PTM Industries (petitioner in writ petition no.11535/2010 herein) by the I.T.A.T. for the assessment years 2005-2006, 2007- 2008 and 2008-2009 received the stamp of authority from the Division Bench while deciding the aforesaid appeal....