TaxTMI 
TaxTMI 
2013 (12) TMI 830
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....aterial placed before us. The assessee is a company which is engaged in the business of trading and manufacturing of chemicals. The assessee was allowed deduction under Section 80IC for the preceding eight years and it was the ninth year in which such deduction was claimed. However, the Assessing Officer denied the deduction claimed under Section 80IC with the following finding:- "4.10 From the analysis of the business activity of the assessee company and the Thirteenth Schedule read with Section 80IC, it is quite clear that the assessee's business activity is covered under this prohibited category. The assessee contention that in earlier year the claim of 80IB/IC has been accepted by the department is not tenable. The principle of res-jud....
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....nt in all the years including in scrutiny assessments u/s 143(3) made for AYs 2001-02, 2003-04, 2004-05 and 2006-07. It is submitted that the year under consideration, i.e. AY 2009-10, is the ninth year of deduction u/s 80IC in the case of the appellant. It is submitted that none of the items mentioned by the AO are included in the negative list as per the Thirteenth Schedule. For example, Rosin and Resin mentioned in para 4.9 of assessment order fall in item code nos. 38062000 and 38099200 respectively, whereas the stipulated prohibited items are only 3808.10 and 39.09 to 39.15 which do not include Rosin and Resin. Further, as per the AO's own admission the item manufactured by the assessee falls under the classification 3905300 which is n....
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....he appellant's claim of deduction u/s 80IC in all the earlier years under similar facts including in scrutiny assessments u/s 143(3) made for various years as mentioned supra. Considering the above, the addition of Rs.2,77,80,153/- made by the AO on this count cannot be sustained. The same is, therefore, deleted." 5. After considering the arguments of both the sides and the facts of the case, we do not find any justification to interfere with the order of learned CIT(A). It is not in dispute that the nature of the business activity of the assessee and the items manufactured by it was the same in this year as was in the preceding years. That in AY 2001-02, 2003-04, 2004-05 & 2006-07, assessments were completed under Section 143(3). The earl....