Income Tax Act, 1961

--Reassessment --Notice under section 148 Absence of issuance of notice under section 143(2)--Assessment done for assessment years 2005-06 and 2006-07 were reopened by issuing notice under section 148 and disallowed assessee's claim under section 80-IB. Commissioner (Appeals) deleted the disallowance on the ground that new unit set up by assessee was eligible for deduction under section 80-IB. However, new ground was raised before Tribunal that issuance of notice under section 143(2) is mandatory and concluded that in the absence of such service, assessing officer cannot proceed to make an inquiry on the return filed in compliance with the notice issued under section 148. Held : On the concurrent findings of both the authorities assessee was entitled to claim deduction under section 80-IB and no question of law arose.

Income Tax Act, 1961, Section 148

Income Tax Act, 1961, Section 143

Income Tax Act, 1961

--Appeal (High Court)--Substantial question of law Deduction under section 80-IB-- Commissioner (Appeals) and Tribunal from the material on record had recorded concurrent finding of fact that assessee was entitled to claim deduction under section 80-IB, therefore, no substantial question of law arose for interference.

Income Tax Act, 1961, Section 260A

In the Bombay High Court

V. M. Kanade & U.V. Bakre, J.J.

Asstt. CIT v. Geno Pharmaceuticals Ltd.

Tax Appeal Nos. 75 to 78 of 2012

A.Ys. 2005-06 & 2006-07