Tribunal upholds Sec. 80IA deduction for 2012-13 assessment year, dismissing Revenue's appeal.

The Tribunal upheld the Commissioner's decision to allow the deduction under Sec. 80IA(4)(iii) for the assessment year 2012-13. Relying on past allowances, consistency in assessments, and lack of new evidence presented by the Revenue, the Tribunal dismissed the appeal on 25th September 2020. The decision aligned with the precedent set in the assessee's case for the previous assessment year, where the deduction was correctly allowed.

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Issues:
- Allowability of deduction u/s 80IA(4)(iii) of the Act.

Analysis:
1. The appeal by the Revenue challenged the order of the Commissioner of Income Tax (Appeals) for A.Y. 2012-13 regarding the deduction u/s 80IA(4)(iii) of the Income Tax Act, 1961. The main contention was whether the assessee fulfilled the conditions for claiming the deduction.

2. The assessee had claimed the deduction for A.Y. 2012-13, which was the final year of its claim under Sec.80IA(4)(iii). The history of the claim showed initial rejections, subsequent allowances, and recent rejections by the ACIT for A.Ys. 2010-11 and 2011-12.

3. The Assessing Officer disallowed the deduction for A.Y. 2012-13, citing that the construction completion dates and initial claim in A.Y. 2003-04 did not align with the eligibility criteria under Sec.80IA(4)(iii).

4. The Commissioner of Income Tax (Appeals) allowed the deduction for A.Y. 2012-13 based on the assessee's compliance with conditions and past allowances. The decision was supported by the Supreme Court ruling and consistency in previous assessments.

5. The Pune Tribunal's decision in the assessee's case for A.Y. 2011-12 was referenced, where the Revenue's appeal was dismissed, and the deduction was upheld. The Department failed to present new evidence or contradict the previous findings for A.Y. 2012-13.

6. The Tribunal, after reviewing submissions and past judgments, upheld the Commissioner's decision to allow the deduction for A.Y. 2012-13. The identical circumstances and lack of contrary evidence led to the dismissal of the Revenue's appeal.

7. The Tribunal found no reason to deviate from the precedent set in the assessee's case for A.Y. 2011-12, where the deduction under Sec.80IA(4)(iii) was correctly allowed. Consequently, the appeal by the Revenue was dismissed on 25th September 2020.

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