Allowing the petition the Court held that the note on software development projects and the various stages of software development placed by the assessee before the assessing authority disclosed the stages wherein the assessee was required to carry out the project at the customer’s site and this was reflected in the annual reports. Considering these materials, deduction under section\u00a010A\u00a0was allowed in the order passed under section\u00a0143(3)\u00a0. In such circumstances, it would be presumed that the assessing authority had examined the entitlement of the assessee to the deduction under section\u00a010A\u00a0from all angles. Withdrawal of the deduction allowed under section\u00a010A\u00a0based on the assessment order relating to the assessment year 2007-08 was without application of mind and nothing but a change of opinion, which amounted to review and was not permissible. There was no material available in the reasons recorded by the Assessing Officer to believe escapement of tax on any such agreement where the assessee had received revenue from foreign companies for deputing the technical members independent of software development work. The notice of reassessment was not valid. ( AY. 2004 -05 to 2006 -07)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.147: Reassessment-After the expiry of four years- No failure to disclose material facts \u2013 Denial of exemption in subsequent year is not aground for reassessment .[ S. 10A, 148 ]<\/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_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7256","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1T2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/7256","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=7256"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/7256\/revisions"}],"predecessor-version":[{"id":9680,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/7256\/revisions\/9680"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=7256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=7256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=7256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}