In the result, the appeal of the assessee is allowed while the appeal of the Revenue is dismissed

Bench: The Cit (A) & The Itat, The Said Issue Of Determination Of Profit For The Purpose Of 801A(10) Has Merged With The Order Of The Appellate Authorities As A Whole & Hence, It Was No Longer Amenable To The Reassessment Proceedings U/S 147 By Virtue Of Second Proviso To Section 147. On This Principles Also, Since In Both The Assessment Years, The Issue Was Originally Considered & Agitated At The Level Of The Itat, The Reopening On The Same Issue Is To Be Considered As Bad In Law. We Need Not Examine The Various Case Law Relied On This Issue. Suffice To Say That On Facts & In Law The Issue Having Merged With The Orders Of Itat Was Not Amenable For Reassessment".

section 80IA, having been made subject matter of appeal before the CIT (A) and the ITAT, the said issue of determination of profit for the purpose of 801A(10) has merged with the order of the appellate authorities as a whole and hence, it was no longer amenable to the reassessment