2013 (12) TMI 373

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 1. Being aggrieved and dissatisfied with the impugned judgment and order passed by the Income Tax Appellate Tribunal (hereinafter referred to as 'ITAT') dated 10/05/2013 in ITA No. 409/Ahd/2013 for the Assessment Year 2007-08, the revenue has preferred the present Tax Appeal with the following substantial question of law; "Whether on the facts and in the circumstances of the case and in law, t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ideration declaring the total income of Rs.11,21,743/-. Thereafter, a revised return of income was filed declaring the loss of Rs.33,13,525/-. The return of the assessee was selected for scrutiny. The assessee claimed deduction under Section 32(1)(iia) of the Income Tax Act, being the cost incurred for installing various wind mills for generation of electricity. The Assessing Officer framed the as....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ch Arai Ltd. reported in [2010] 321 ITR 477 (Mad) the CIT(A) deleted the addition of Rs.1,17,98,030/- on account of disallowance of Wind Electric Generator and held that the assessee will be entitled to deduction as claimed under Section 32 (1) (iia) of the Income Tax Act. 2.2. Being aggrieved and dissatisfied with the order passed by the CIT(A), the revenue preferred appeal before the ITAT and....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ddition of Rs.1,17,98,030/- by observing that as the assessee is not in the business of generation and distribution of power, the assessee shall not be entitled to deduction under Section 32(1)(iia) of the Income Tax Act of Rs.1,17,98,030/-. The said addition has been deleted by the CIT(A) relying upon the decisions of the Madras High Court in the case of VTM Ltd (Supra) and in the case of Hi Tech....