TaxTMI 
TaxTMI 
2015 (11) TMI 985
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....ad with sections 147 and 250 of the Act in old I. T. A. No. 1145/13-14 and new I. T. A. No. 422/ CIT(A)-11/2013-14 for the assessment year 2005-06 and in old I. T. A. No. 1442/13-14 and new I. T. A. No. 528/CIT(A)-11/2013-14 for the assessment year 2006-07. Since the issues in both the appeals are common in nature, they are clubbed and heard together and disposed of by this common order for the sake of convenience. 2. The Revenue has raised three identical and elaborate grounds in both the appeals, however the crux of the issue is that the Revenue is aggrieved by the order of the learned Commissioner of Income-tax (Appeals), who had erred in allowing deduction under section 80-IA of the Act following the decision of the hon'ble jurisdi....
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....mpleted on December 31, 2010 (assessment year 2005-06) and on December 26, 2011 (for the assessment year 2006-07) wherein the learned Assessing Officer disallowed the deduction under section 80-IA of the Act on the windmills. 4. During the course of assessment proceedings, it was observed by the learned Assessing Officer that the assessee had claimed the deduction under section 80-IA of the Act relying upon the decision of the case rendered by the hon'ble jurisdictional High Court in the case of Velayudhaswamy Spinning Mills P. Ltd. v. Asst. CIT [2012] 340 ITR 477 (Mad). The learned Assessing Officer opined that since the Revenue is in appeal and the matter is pending before the hon'ble apex court, he is justified in disallowing th....
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....rties and carefully perused the materials available on record. From the facts of the case it appears that the learned Assessing Officer was of the view that since the Revenue was on appeal against the decision of the hon'ble Madras High Court in the case Velayudhaswamy Spinning Mills P. Ltd. v. Asst. CIT [2012] 340 ITR 477 (Mad) before the hon'ble apex court, he need not follow that decision. He did not realise that mere filing of the special leave petition before the apex court is not a valid ground for not following the judgment of the hon'ble Madras High Court. Further, it is not the case of the Revenue that the judgment of the hon'ble Madras High Court in the case Velayudhaswamy Spinning Mills P. Ltd. (surpa) is stayed b....