2014 (12) TMI 975

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....bunal was right in having affirmed the decision of the Commissioner of Income Tax (Appeals), who ordered for grant of deduction under Section 80IC of the Income Tax Act, 1961 to the tune of Rs. 1,56,48,973/-? (ii)Whether on the facts and circumstances, the Tribunal erred in upholding the claim for deduction under Section 80IC of the Income Tax Act, when the assessee had failed to make a claim for the same in its return of income nor filed revised return of income, rendering it contrary to the decision rendered by the Supreme Court in Goetze (India) Ltd. v. Commissioner of Income Tax, 284 ITR 323? 2.1. The brief facts of the case are as under: The assessee is a company engaged in the business of manufacturing and export of pharmaceutic....

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....e said order, the department went on appeal to the Tribunal. The Tribunal, by order dated 12.8.2011, dismissed the appeal filed by the Revenue holding as under: "9. Further, we also observe that the Revenue has not disputed the finding of the ld. CIT(A) that the assessee was eligible for deduction u/s 80IC of the Act. No material was brought before us to show that the assessee was not eligible for deduction u/s.80IC of the Act. 10. We are reminded of the decision of the Hon'ble Supreme Court in the case of Ram Lal Vs. Reva Coal Field Ltd. AIR [1962] [SC] 361 wherein it was held that the state authorities should not raise technical pleas if the citizens have a lawful right and the lawful right is being denied to them merely on tech....