TaxTMI 
TaxTMI 
2012 (4) TMI 296
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....e facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the assessee was entitled to deductions u/s 80HHA and u/s 80I and the Assessing Officer was not justified in withdrawing the deductions u/s 154? 2.Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the Assessing Officer was not correct in initiating the proceedings for rectification u/s 154 on the ground that there were no mistakes apparent from records ?" 2.The brief facts arising out of the appeals are as under:- The assessee is a private limited company engaged in the manufacture and sale of cattle feeds and poultry feeds and also procures eggs and se....
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....s of the authorities below are not in accordance with law and the same should be set aside. 4.The learned counsel appearing for the respondent-assessee has submitted that both the authorities have considered all the facts and circumstances of the case and came to the correct conclusion that there is no mistake apparent from the record and therefore, the order passed by the Tribunal is based on valid material evidence and hence, the same has to be confirmed. 5.Heard both sides and perused the materials available on record. In the present case, the respondent/assessee is engaged in manufacturing as well as trading activity. In the manufacturing division, the assessee manufactures and sells cattle feeds and poultry feeds. I....
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....ss than Rs. 35,00,000/- (Rupees Thirty five lakhs only). Therefore, the Commissioner of Income Tax (Appeals) taken the view that the Assessing Officer correctly allowed the relief in the original assessment. The Commissioner of Income Tax (Appeals) further held that the Assessing Officer was wrong in rectifying the assessment order under Section 154 of the Income Tax Act, 1961 in respect of the relief granted earlier under Section 80HHA and 80-I of the Income Tax Act, 1961. The reason assigned by the Assessing Officer for withdrawing the relief was that the second unit was also functioning in the same premises. The Commissioner of Income Tax (Appeals) considered the issue in detail in paragraph 6 and pointed out that it is not necessary tha....