Itxa/1319/2011 Of Commissioner Of Income Tax, Central-Iv v. M/S Associated Capsules Pvt. Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1319 OF 2011 Commissioner of Income Tax, Central -IV,Mumbai Mumbai..Appellant.V/s.M/s. Associated Capsules Pvt. Ltd...Respondent. Mr. Suresh Kumar, for the Appellant.Mr. A. K. Jasani, for the Respondent. P.C:- CORAM: J.P.DEVADHAR & M.S.SANKLECHA,JJ.DATE : 11[th] JANUARY, 2013. In this Appeal, the Revenue has raised the following question of law:- “1Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT was right in holding that,the initiation of reassessment proceedings was bad in law and the assessment completed by the Assessing Officer u/s 143(3)147 was liable to be cancelled being invalid without appreciating that in original assessment the applicability of Sec. 801A(9) has never been the subject matter of adjudication or enquiry or application? 2Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT was right in holding a contrary view that the initiation of reassessment proceedings u/s 147 was based on mere change of opinion and hence bad in law ignoring the ITAT's decision in assessee's own case for A.Y.2002-03 in ITA No.1922/Mum/2008 under similar facts holding the initiation of proceedings u/s 148 as valid? 3Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT was justified in not deciding the other grounds raised by the assessee on merit with regard to the additions made to its total income by restricting the amount of deduction allowable u/s 80HHC?” 2Though the Question Nos.1 and 2 above related to the initiation of reassessment proceedings under Section 147/148 of the Income Tax Act, the Counsel for the Appellant and the Respondent state that the issue on merits is covered against the Revenue and in favour of the Assess by the decision of this Court in the matter of Associated Capsules P. Ltd. v/s. Deputy Commissioner of Income-Tax and Another, reported in 332 ITR page 42. 3In view of the above, no reason to entertain the proposed question arises. Accordingly, Appeal is dismissed with no order as to costs. (M.S.SANKLECHA,J.) (J.P.DEVADHAR,J.)