2022 (7) TMI 1540

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....LE JUSTICE BIVAS PATTANAYAK For the Appellant : Mr. Prithu Dudheria, Adv. For the Respondent : Mr. Avra Manumdar, Adv. And Mr. Binay Gupta, Adv. IA No.GA/1/2016 : The Court : We have heard Mr. Prithu Dudheria, learned standing counsel for the appellant/revenue and Mr. Avra Majumdar, learned Advocate for the respondent. There is a delay of 68 days in filing the appeal. We are sati....

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....n the circumstances of the case the learned Tribunal was justified in law to quash the reassessment proceeding without considering the Explanation 2(c) to Section 147 of the said Act? ii) Whether on the facts and in the circumstances of the case the learned Tribunal was justified in law in not considering the fact that the assessee company was not an eligible unit for availing exemption u....

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....ts of the case and recorded the following finding: "The AO while giving appeal effect to the order of the Tribunal accepted the assessee's contention and allowed the exemption under Section 10B of the Act including incentive i.e., receipts of EMA in such situation, whether the revenue on same set of facts can reopen the assessment by resorting to the provisions of Section 148 r.w.s. 147 o....

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....relating to EMA. Accordingly, we find that this issue is squarely covered in favour of the assessee and against revenue by the judgment of Hon'ble Supreme Court in the case of CIT vs. Kelvinator India Ltd. (2010) 310 ITR 561 (SC), wherein newly substituted provision of Section 147 of the Act w.e.f. 1.4.1989 is interpreted by observing that Section 147 of the Act, as substituted w.e.f. 1.4.1989 doe....