Assessee company, engaged in construction and development of a housing project, claimed deduction under section 80IB(10). Assessing Officer issued a notice under section 148 to reopen the assessment on the ground that the deduction was not allowable in view of the Assessing Officer\u2019s findings for assessment year 2012-13 that the project was not completed within the prescribed time; the Commissioner (Appeals) allowed the assessee\u2019s claim for assessment year 2012-13. High Court held that since the Commissioner (Appeals) had already allowed the deduction for assessment year 2012-13, the Assessing Officer could not have assumed jurisdiction to reopen assessment for assessment year 2016-17 on the ground that the project was not completed as on 31-3-2012. Reopening notice was quashed and set aside. SLP of revenue dismissed.(AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.147: Reassessment-Housing projects-Failure to complete the housing project-Reassessment was quashed and set aside-SLP of revenue dismissed.[S.80IB(10), 148, Art. 136] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-65285","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gYZ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=65285"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65285\/revisions"}],"predecessor-version":[{"id":65286,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65285\/revisions\/65286"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=65285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=65285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=65285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}