Validity of reopening based on Survey finding on ineligibility to claim Section 80IA Deduction

CIT Vs Deepak Cables (India) Ltd. (Karnataka High Court)

Tribunal, in a cryptic and cavalier manner, has found that during the course of survey under Section 133A of the Act, no material was found and the reopening of the assessment is not valid in law. It is pertinent to mention here that it was admitted on behalf of the assessee in the statements recorded under Section 131 of the Act, that the unit at Tumkur was an old unit and the claim of deduction under Section 80IA of the Act was not correct and the assessee itself had

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