AAJAY KUMAR MITTAL, J. - (1.) OF the Tribunal, Chandigarh Bench -A, Chandigarh (hereinafter referred to as "the Tribunal") passed in ITA No. 154/Chd/2003 relating to the asst. yr. 1994 -95 has been challenged. The assessee has claimed that the following substantial questions of law arise for consideration of this Court : 4) are legally sustainable ? 2. Whether the AO has validly assumed jurisdiction under s. 147 of the Act ? 3. Whether the Tribunal is correct in law in holding that the notice issued under s. 148 of the Act for reopening the assessment already completed does not amount to change of opinion ? 4. Whether in the facts and circumstances of the case the order disallowing the deduction under s. 80 -I is legally sustainable, the same being based on mere presumptions and surmises and mere difference of opinion which cannot form the basis of adjudication -
(2.) A perusal of the aforesaid questions of law would show that there is inter -linking and overlapping of substantial questions of law which have been claimed by the assessee. The primary point which would arise for consideration in this appeal is as to whether the assumption of jurisdiction under s. 147 of the Act by the AO is valid or not. at Rs. 40,83,687 and claimed deduction at Rs. 10,20,921 under s. 80 -I of the Act. Thereafter, the appellant filed a "The claim of the assessee under s. 80 -I of the IT Act has been made for the first time this year since this is the sixth year of the assessee after commencing production and prior to this there has been no income."
(3.) The assessment was made for asst. yr. 1995 -96 and claim under s. 80 -I of the Act was disallowed and the AO issued notice under s. 148 of the Act to the assessee for the asst. yr. 1994 -95, in response to which the assessee filed return Act at Rs. 47,11,857. The assessee appellant feeling aggrieved against the action of the AO filed appeal before the CIT made by the AO on account of disallowing the deduction under s. 80 -I of the Act. The Revenue took the matter in appeal appeal to his file for recording decision on merits after giving reasonable opportunity of being heard to the assessee and, if necessary, to the AO also.;