TaxTMI 
TaxTMI 
2021 (12) TMI 260
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.... infrastructure construction and development operations, the company undertakes highway projects on BOT, EPC and HAM on the basis of Mining Project on MDO basis. 2. It is the case of the petitioner that it had filed the Return of Income declaring total income of Rs. 171,31,23,145/- and claimed deduction under Chapter VI-A of Rs. 87,50,11,896/- offering the said amount as taxable amount. 3. His case was selected for scrutiny and petitioner submitted various details along with the audit report from the Chartered Account in Form 10CCB duly certifying the claim of deduction made under section 80IA of the Income Tax Act (for "the Act" for short) of each project, profit and loss account of project and other relevant documents. 4. It is the cas....
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....to the petitioner,is an elaborate, comprehensive and containing the robust accounting system. The books of accounts were duly audited by the qualified Chartered Accountant and while filing the return of income, audit report in Form 10CCB along with the profit and loss accounts had been furnished on the Income Tax Portal. It is also his claim that his deduction under Section 80-IA (4) in preceding years had been allowed, where in some of those years the, Assessing Officer had disallowed, the Appellate Authority had allowed the same and, therefore, the Assessing Officer had no reason to take a different view treating the earlier views as erroneous. There are other elaborate objections which have been raised on the part of the petitioner. It i....
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....e represented his case , instead of considering his version to proposed the reference for in the Special audit of account under Section 142(2-A) of the I.T Act. It appears to be an attempt on the part of the Assessing officer to fetch more time and to pass an assessment order. His grievance is also multiplied when the Assessing Officer had proposed the entire disallowance under Section 80- IA (4), on 19.6.2021 which according to him is a sign of verification on the part of the respondents and who understood the documents on record and yet thereafter, he chose to issue the show cause notice. However, at the end of the limitation period before passing the assessment order and without availing an opportunity he proposed the special audit which....
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....sing Officer himself ought to have done he has chosen to get it done through the Special Auditor which not only would put the present petitioner to the jeopardy but the basic requirement of the provisions are not being satisfied and that would be the reason for the Court to intervene and indulge at this juncture. In support of his submissions he had taken us through the responses given by him to the issuance of the show cause notice and the details which have been furnished which according to the petitioner if would have been taken into consideration, there would not be any necessity for him to make a reference as has been done presently. 10.1 He has relied on the following authorities in support of his submissions. (a) Swadeshi Cotton M....