2015 (8) TMI 692

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....OUNTANT MEMBER: These are appeal and Cross Objection of the Revenue and the assessee respectively directed against an order dated 03.08.2012 of CIT(A)-I, Chennai. Grievance of Revenue in its appeal is that CIT(A) quashed rectification effected by the Central Processing Centre, Bangalore under section 154 of the Income Tax Act, 1961 (in short 'the Act'), thereby granting assessee the deduction cl....

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..... '0'-, Advance tax of Rs. 1,55,00,000/- and TDS of Rs. 4,23,754/- were shown as paid. However, the total tax paid was shown as Rs. 1,38,84,356/-. In the intimation dated 14.12.10 issued by the Revenue, deduction of Rs. 1,00,000/- claimed under Chapter-VI alone was allowed from the gross total income. Assessee filed a petition under section 154 to the Assessing Officer stating that such deduction ....

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....of the CIT(A) whereby assessee was granted deduction under section 80-IA of the Act stood already amended and the appeal of assessee in this regard was dismissed by the CIT(A). 5. When the appeal was taken up for hearing, nobody appeared on behalf of the assessee. Ld. D.R was heard. 6. We have perused the orders of the CIT(A) and also heard the contention of the Ld. D.R. We find that the assesse....

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.... assessee for granting it deduction of Rs. 8,62,93,033/- under section 80-IB was unjustly rejected by the Assessing Officer. Assessee had preferred no such claim in its return at all. This seems to be the right decision taken by the Assessing Officer. On the other hand, CIT(A) had accepted the claim of assessee going into the merits when the rectification was rejected by the A.O. based on the figu....