2023 (9) TMI 1520

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....as erred both in law and on the facts of the case in confirming the action of AO in reopening the assessment u/s. 147 of the Act. On the facts and circumstances of the case, Ld. CIT (A) ought to have held that the action of reopening is without jurisdiction and not permissible either in law or on facts. The Ld. CIT (A) has failed to appreciate that mere change of opinion is not valid aground to reopen the case. 2. The Ld. CIT (A) has erred in law and on facts in confirming action of the Ld. AO in disallowing deduction claimed u/s. 80P(2)(d) of the Act amounting to Rs. 17,83,802/- in respect of interest received from fixed deposits kept with the Gujarat State Co-op. Bank. 3. The Ld. CIT (A) has erred in law and on fact....

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.... Further, the assessee claimed deduction under Section 80P(a)(ii) of the Act available for Cottage Industries for Rs. 17,93,172/-. The assessee filed its reply before the Assessing Officer. The Assessing Officer made disallowance of deduction claimed under Section 80P of the Act to the extent of Rs. 35,76,974/- 4. Being aggrieved by the Assessment Order, the assessee filed appeal before the CIT(A). The CIT (A) dismissed the appeal of the assessee. 5. As regards to ground no. 1, the Ld. AR submitted that the reopening was done on the very same reason when the original question of the scrutiny was conducted by the Assessing Officer. The Ld. AR relied upon the decision of Hon'ble Gujarat High Court in the case of Gujarat Power ....

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....District Co-operative Development Federation, 88 ITR 330 passed by the Hon'ble Allahabad High Court. 6. The Ld. DR in respect of ground no. 1 submitted that the reasons were properly recorded and, therefore, reopening is justified by the Assessing Officer. As regards to ground no. 2, the Ld. DR relied upon the Assessment Order and the order of the CIT(A). As regards to ground no. 3, the ld DR submitted that the assessee does not qualify as Cottage Industry and, therefore, the CIT (A) has rightly confirmed the order of the Assessing Officer. 7. Heard both the parties and perused all the relevant material available on record. As regards to ground no. 1, the contention of the Ld. AR that the scrutiny was done in the original assessment p....