2015 (11) TMI 1053

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....r our consideration in this appeal is with regard to deduction under section 10B of the Income-tax Act, 1961. 3. The brief facts of the case is that the assessee has filed this appeal on denial of claim of deduction under section 10B of the Act. The Assessing Officer while denying the claim of deduction under section 10B of the Act, relied upon the ratio of the decision of the Delhi High Court in the case of CIT v. Regency Creations Ltd. [2013] 353 ITR 326 (Delhi). Against this, the assessee preferred an appeal before the Commissioner of Income-tax (Appeals). 4. The learned authorised representative for the assessee submitted before the Commissioner of Income-tax (Appeals) that it has got a letter from the Assistant Development Commis....

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....ot got the ratification by the board constituted as per the Act whereas the Assessing Officer has granted deduction under section 10B for the assessment year 2010-11 in his assessment order dated February 22, 2014 and hence the Commissioner of Income-tax (Appeals) ought to have directed the grant of deduction under section 10B. The Commissioner of Income-tax (Appeals) erred in holding that the letter dated February 19, 2014 from the Development Commissioner intimating the ratification of approval from the Development Commissioner by the Board of Approval in its 4th meeting (2013 series) held on August 30, 2013 is not sufficient for granting deduction under section 10B of the Act. The action of the Commissioner of Income-tax (Appeals) in not....