TaxTMI 
TaxTMI 
2020 (12) TMI 975
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....er consideration by Ld. CIT(A), on the ground that, assessee did not produce any evidence to claimed expenses towards the production cost incurred during the years under consideration and failed to substantiate the difference in the production cost adopted in the return of income filed and Form 52A filed in spite of opportunity of being heard granted to assessee. 3. As the issues raised in both years under consideration by revenue are identical and on same facts, both parties do not have any objection in the appeals being disposed off by way of common order. 4. We note that, original assessment order for assessment years 2006-07 and 2007-08 was completed by Ld. AO on 30/12/2008 and 30/12/2009 respectively. Subsequently, notice under secti....
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....unt and Form 52A in the original proceedings. He has also thoroughly examined the expenditure claimed vis-à-vis P&L account as well as Form 52A of the assessee and made his disallowances in the original assessment. Hence, I have no hesitation in applying the above mentioned Apex Court's decision whose ruling comes in the nature of binding precedent. Respectfully following the Hon'ble Court, it is held that the AO has reopened the assessment on the basis of change of opinion' and thus the same cannot be sustained in first appeal. Reassessment proceedings stand quashed and hence there is no necessity to go into the merits of the case. 6. The facts are identical in this year too and the reasons recorded by the AO are as un....
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....y order dated 14/03/2014 and 10/02/2016 disposed off the appeals for years under consideration that arose out of Original assessment order passed under 143(3). It has been submitted that for assessment year 2006-07 issue regarding expenditure claimed has been remanded to Ld. AO for fresh consideration. 11. For assessment year 2007-08, Ld. AR submitted that, assessee did not claim any expenses under production cost pertaining to film 'Shanthi Niwas'. He referred to page 81-82 of paper book, wherein, said amount has been claimed and shown as work in progress. 12. He thus placed reliance on order observations of Ld. CIT(A). Even otherwise, Ld. AR submitted that, declaration under section form 52A is a statement by assessee in respect....
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....p; 65,77,545/- 88,90,555/- 16. Ld. AR drew our attention towards form 52A placed at page 54-56 for assessment year 2006-07 and 76-77 for assessment year 2008-09. It is submitted that, for assessment year 2006-07 and 2007-08 cost of production was considered as work in progress which is clear from the statement of affairs for 31/03/2007 placed at page 81-82 of paper book. He also drew our attention to page 83, being the statement of affairs for year-end 31/03/2008 wherein, the said production cost is claimed as expenditure. In the written submission placed at page 41-52 of paper book, Ld. AR has submitted that this Tribunal has remanded the matter back t....