2019 (7) TMI 415

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.... assessee for reopening of the assessment for the year 2010-2011. 2.The assessee filed their return of income for the relevant year and the assessment was completed under Section 143(3) of the Income Tax Act, 1960 (hereinafter referred to as "the Act") with minor additions on 28.01.2013 accepting the claim of deduction made by the assessee under Section 10B of the Act. Subsequently the appellant issued notice dated 25.01.2017 stating that the claim of deduction under Section 10B of the Act for the year of Rs. 97,34,667/- is allowed based on Form No.56G, in the said Form in Column No.8 it is mentioned as 10th year of claim, but, in Column No.7, the date of commencement of manufacturing is mentioned as 28.03.2000. Thus the Assessing Office....

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....essment year 2001-02 which has been clearly claimed as the first year of exemption. Therefore, the assessee requested to drop all the assessment proceedings and reopen the assessment. Apart from the above stand taken by the assessee, they referred to few decision in support of their contentions. 3.The Assessing Officer vide order dated 13.02.2017 rejected the contention raised by the Chartered Accountant/authorized representative of the assessee stating that the Form 56G does not give a conclusive picture regarding commencement of manufacturing activity. It was stated that Sub-section (5) of Section 10B of the Act mandates furnishing of report of an accountant as prescribed in Section 288(2) in Form 56G for allowing the exemption under S....

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....for the respondent/assessee. 5.Before we go into the controversy as to what would be the correct date of commencement of commercial production by the assessee, we need to point out that there has been a discrepancy in the dates mentioned in Form 56G filed by the assessee. There can be no escape from this fact and the assessee should accept this mistake. In fact this Form is required to be submitted through the Chartered Accountant as a report under Section 10B of the Act. Therefore, utmost care should have been taken before the details are submitted. It may be true that the assessee can now take a stand that substance over form is to be considered but what is important is that the assessee at the first instance had a duty to give proper ....