TaxTMI 
TaxTMI 
2020 (11) TMI 450
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....sued and served on the assessee. Subsequently statutory notices under section 143(2) and 142(1) were issued and served on the assessee. In response AR of the assessee attended and filed the relevant information as called for. 3. The assessing officer in his order under section 143(3) r.w.s 147 has highlighted the reasons for reopening at page 2 of the order, as per which assessee has claimed excess allowance of deduction under section 36(1) (viia) and under section 36(1) (viii). Further, he observed that income which was chargeable to income tax has escaped assessment for the assessment year 2009-10 by reason of the failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment. Accordingly he completed the assessment by making addition under section 36(1) (viii) and 36(1) (viia) of the Act. 4. Aggrieved with the above order, assessee preferred an appeal before Ld. CIT(A) and before him, assessee has filed detailed submissions. After considering the submissions of the assessee, Ld CIT(A) sustained the addition made by the assessing officer with regard to deduction under section 36(1) (viii). However with regard to deduction under s....
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....he profits derived from the eligible business, though not contended before him and the lower authority. 5. rejecting the method of calculation adopted by the appellant for deduction u/s. 36(1)(viii) of I. T. Act, 1961. And hence, the order passed by the CIT(A) - 3 deserves to be set aside in toto. Your Appellant craves leave to add, alter, modify or delete all or any of the grounds of appeal. Additional Grounds:- 1. The above appeal was filed on 21.5.2.018 with five grounds of appeal as mentioned in the Grounds of Appeal forming part of Form No. 36. 2. The Applicant would like to state that Grounds of Appeal No. 1, 2 & 3 were neither taken nor contended before the CIT(A) - 3. 3. Since Grounds of Appeal No. 1, 2 & 3 were not taken before the CIT (A) - 3, the Appellant would like to take the same as additional grounds of appeal as under as Grounds of Appeal No. 3, 4 & 5 (original Grounds of Appeal No. 4 & 5 being numbered as 1 & 2) Grounds of Appeal No. 3 :-not appreciating that the original assessment order for the A. Y. 2009-10 was passed on 21.11.2011 u/s. 143 (3) of I. T. Act, 1961 and there was no failure on....
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....se that the reassessment notice was issued after the expiry of 4 years. He submitted that assessee is in appeal before us on claim of deduction under section 36(1)(viii) of the Act which was sustained by Ld CIT(A). He brought to our notice findings of assessing officer in his order at paragraph 7 and further he brought to our notice relevant calculation to claim deduction u/s 36(1) in its return of income, which is placed at page 27, 28 and 29 of paper book. He submitted that all these informations were submitted during the original assessment proceedings. He brought to our notice original assessment order which is also placed on record. Further he brought to our notice page 41 and 42 of paper book and submitted that the reassessment proceedings were initiated based on the audit objection and brought to our notice the reasons for reopening given in the assessment order that assessee has failed to disclose fully and truly all material facts necessary for assessment. He submitted that assessee has disclosed all the information for claiming deduction under section 36(1) and the then assessing officer while completing the original assessment accepted the information/calculation submitt....
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....that the assessee has submitted all the relevant information during the original assessment proceedings and the same was verified by the assessing officer in the original assessments and completed the assessment. We notice in the similar facts and situation, the coordinate bench in ITA No. 5822/mum/2013 has adjudicated as below: 5. After considering the relevant finding given in the impugned order and after hearing Ld. DR, we find that the sole reason for which the assessment completed under section 143(3) has been sought to be reopened is that, tax liability under section 115JB is more than the normal provision of the Act and further, assessee is not liable for deduction of rebate under section 88E while determining the tax liability under section 115JB. During the course of the original assessment proceedings, all these details of return of income under the normal provisions and under the book profit under section 115JB was there before the AO and AO after completing the assessment under section 143(3) has computed the tax liability. Now after the expiry of 4 years from the end of the relevant assessment year, the said assessment has been sought to be reopened i....