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Tribunal upholds deduction for assessee under section 80IA based on High Court judgment The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to allow the deduction u/s 80IA to the assessee based on the Madras High ...
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Tribunal upholds deduction for assessee under section 80IA based on High Court judgment
The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to allow the deduction u/s 80IA to the assessee based on the Madras High Court's judgment. The Tribunal emphasized the binding nature of the High Court's decision, stating that the pendency of the SLP before the Apex Court did not affect its applicability. The decision was announced on 9th December 2015 in Chennai.
Issues: - Appeal against order of Commissioner of Income-tax (Appeals)-1, Coimbatore for assessment year 2011-12. - Consideration of deduction u/s 80IA of the Act in respect of windmill. - Interpretation of the binding judgment of the Madras High Court in Velayudhaswamy Spinning Mills (P) Ltd. case.
The judgment pertains to an appeal by the Revenue against the order of the Commissioner of Income-tax (Appeals)-1, Coimbatore, for the assessment year 2011-12. The main issue under consideration was the deduction u/s 80IA of the Act in relation to a windmill. The Revenue contended that the claim was allowed by the CIT(A) based on the judgment of the Madras High Court in the Velayudhaswamy Spinning Mills (P) Ltd. case. The Revenue had filed a Special Leave Petition (SLP) against this judgment before the Apex Court, which was still pending at the time of the appeal.
The Tribunal observed that the CIT(A) had allowed the deduction u/s 80IA to the assessee by following the binding judgment of the Madras High Court in the Velayudhaswamy Spinning Mills (P) Ltd. case. The Tribunal emphasized that the pendency of the SLP before the Apex Court did not negate the binding nature of the High Court's judgment. It was held that the judgment of the jurisdictional High Court is binding on all authorities in the states of Tamilnadu and Pondicherry. Therefore, the Tribunal found no error in the CIT(A)'s decision to follow the High Court's judgment and upheld the allowance of the claim for deduction u/s 80IA.
In conclusion, the Tribunal dismissed the appeal of the Revenue, affirming the decision of the CIT(A) to allow the deduction u/s 80IA to the assessee based on the judgment of the Madras High Court. The order was pronounced in open court on 9th December 2015 in Chennai.
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