Allowing the petition the Court held that since Co-ordinate Bench of Gujarat High Court in assessee’s own cases for preceding year and succeeding year, Adani Power Maharashtra Ltd. v. ACIT (2023) 292 Taxman 475 / 147 taxmann.com 583 (Guj)(HC) in similar situation found action of reopening without independent application of mind. Accordingly the notice and order disposing the objection is quashed and set aside. SLP of Revenue is dismissed. (AY. 2016-17)
ACIT v. Adani Power Maharashtra Ltd. (2024) 297 Taxman 394 / 460 ITR 729 (SC) Editorial : Adani Power Maharashtra Ltd v. ACIT (2023) 294 Taxman 414 (Guj)(HC)
S. 147 : Reassessment-With in four years-corporate social responsibility expenses-Reopening was without application of mind-Reassessment notice and order disposing the objection is quashed-SLP of Revenue is dismissed, [S. 148, Companies Act, 2013, S. 135 Art.136]