TaxTMI 
TaxTMI 
2022 (9) TMI 1382
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....eedings of re-assessment under the provisions of the Income Tax Act, 1961 (in short 'Act') for assessment year (AY) 2012-13. 2. A return of income was filed by the petitioner within time and an intimation u/s 143(1) of the Act issued. Thereafter, the matter was selected for scrutiny and notice under Section 143(2) was issued on 19.08.2019 calling for verification of various issues that arose from the return of income. One of the issues in specific related to the claim of additional depreciation under Section 32(1)(iia) in relation to a wind mill owned and managed by the petitioner. 3. After considering the response of the petitioner, an order of assessment had come to be passed on 30.03.2015, wherein at internal page 2, the As....
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....,54,695/-, the assessee has claimed the additional depreciation in 2 parts. 40% claimed on the addition made during the current financial year 2011-12 @ 40% since the windmill has been purchased in the second half of the financial year. The said amount works out to Rs.43,06,615/-. The second part of the additional depreciation is on the opening balance of the windmill block i.e. as at 01.04.2011, the same has been worked out at 10% for the second half. Based on the submissions made by the assessee, it is to be seen whether the assessee satisfies the conditions as prescribed in Section 32(1)(iia) of the IT Act allowing additional depreciation as claimed. It is seen from the provisions of section 32(1)(iia) that the new machinery or plant has....
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....5,00,000/- in respect of registration charges, processing and supervision charges. From the above bills, it can be seen that the erection and installation alongwith civil work has been undertaken at the fag end of the financial year 2011-12. It can therefore be seen from the above that certain equipments has been only dispatched on 29.03.2012 from Pondicherry and Gujarat. It is therefore not possible for the assessee who have acquired and installed the said machinery of its sight in Coimbatore in support of the assessee's claim for grant of additonal depreciation. In support of commissioning of the windmill, the assessee has submitted cpies of certificate issued by TANGEDCO. Perusal of the Tamil Nadu Electricity Board ....
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.... under Section 148 of the Act. 8. In the meanwhile, it appears that the petitioner was in receipt of notice under Section 153C of the Act dated 23.10.2018, a copy of which is not placed on file. The response of the petitioner dated 26.08.2019 is an integrated one addressing both the notice under Section 153C as well as the impugned proceedings for re-assessment. 9. In line with the procedure set out in the case of GKN Drive Shafts (India) Pvt. Ltd. V. Income Tax Officer (259 ITR 19), the reasons for reassessment were supplied under cover of letter dated 13.09.2019 and read as under: 'As requested by you, the reason for reopening the assessment as per record is as under. In the assessment order passed u/s,143(3) d....
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....sment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year. 12. Thus, in this case, seeing as the assessment framed originally was under scrutiny, the Assessing Authority could proceed to re-assess the income under Section 147, only if he is in a position to, and does, establish that the alleged escapement is on account of the petitioner having failed to make a full and true disclosure at the first instance. 13. A perusal of the reasons would indicate that there is no tangible material th....