'New' hotel tax deduction claim under s. 80ID fails as business seen as renamed continuation of existing hotel Deduction under s. 80ID was denied on the dominant issue whether the assessee's 'new' hotel was formed by splitting up/reconstruction or by transfer of an ...
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"New" hotel tax deduction claim under s. 80ID fails as business seen as renamed continuation of existing hotel
Deduction under s. 80ID was denied on the dominant issue whether the assessee's "new" hotel was formed by splitting up/reconstruction or by transfer of an existing business. Relying on concurrent factual findings that an old hotel had been operating in the relevant period and that the subsequent entity was essentially a renaming/continuation amounting to transfer of an existing business, the HC held the statutory conditions for s. 80ID were not satisfied; the disallowance was therefore sustained. The SC found no perversity in the concurrent findings and no ground to interfere under Art. 136, and consequently dismissed the SLP, affirming denial of the deduction.
Delay was condoned. The Court declined to interfere with the impugned order/judgment in exercise of its discretionary jurisdiction under Article 136 of the Constitution of India, holding: "We do not find a good ground to interfere with the impugned order/judgment in exercise of our jurisdiction under Article 136 of the Constitution of India." Accordingly, the special leave petition was dismissed, and any pending application(s) were disposed of.
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