https://www.taxtmi.com/caselaws?id=206691 The High Court upheld the ITAT's decision to set aside the CIT's order under Section 263 of the Income Tax Act. The case involved the justification of claiming deductions under Section 80IB for a newly established unit engaged in cattle feed production. The ITAT found the unit to be independent and not formed by splitting existing units, with evidence supporting its production capacity and machinery purchases. The High Court deemed the ITAT's decision as factual and supported by evidence, dismissing the revenue's appeal without costs. The judgment emphasized the importance of factual findings and evidence in tax assessments for claiming deductions under the Income Tax Act. en-us Tue, 11 Oct 2011 00:00:00 +0530 Thu, 10 Nov 2011 19:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206691 The High Court upheld the ITAT's decision to set aside the CIT's order under Section 263 of the Income Tax Act. The case involved the justification of claiming deductions under Section 80IB for a newly established unit engaged in cattle feed production. The ITAT found the unit to be independent and not formed by splitting existing units, with evidence supporting its production capacity and machinery purchases. The High Court deemed the ITAT's decision as factual and supported by evidence, dismissing the revenue's appeal without costs. The judgment emphasized the importance of factual findings and evidence in tax assessments for claiming deductions under the Income Tax Act. Case-Laws Income Tax Tue, 11 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206691