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of <h1>Tribunal upholds deduction under section 80IB for AY 2006-07, dismissing Revenue's appeal.</h1> The Tribunal upheld the allowance of deduction u/s 80IB for the relevant period as the conditions disqualifying the deduction were not present. ... - Issues involved: Appeal filed by Revenue against CIT(A) order for AY 2006-07 regarding deduction u/s 80IB of the IT Act.Issue 1: Deduction u/s 80IBThe appeal was filed by the Revenue against the order of CIT(A) for AY 2006-07, concerning the allowance of deduction to the assessee u/s 80IB of the IT Act. The Tribunal noted that in the assessee's own case for the preceding AY 2005-06, a similar issue was dealt with, and the deduction u/s 80IB was allowed. The Tribunal observed that u/s 80IB, deduction is permitted to small scale industrial undertakings that begin manufacturing during a specified period. It was highlighted that in the case at hand, there was no splitting up or reconstruction of the business, but rather a change in the constitution of the industrial concern. The Tribunal, in line with its previous decision and the finding of the CIT(A), upheld the allowance of the deduction u/s 80IB for the relevant period, as the conditions disqualifying the deduction were not present. Consequently, the appeal of the Revenue was dismissed, affirming the order of the CIT(A).This summary provides a detailed overview of the judgment, focusing on the issues involved and the Tribunal's decision regarding the deduction u/s 80IB of the IT Act.
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