2016 (10) TMI 503

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....Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 25th June, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2006-07. 2. The Revenue has urged following questions of law for our consideration : (i) Whether on the facts and in the circumstances of the case and in law, the Tribun....

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.... 80IB(1), whereas this allowance make the provision of Section 40A(ia) redundant? 3. Re. question nos. (i) and (ii) : (a) Mr. Tejveer Singh, learned Counsel appearing for the appellant Revenue very fairly states that the issues arising herein stands concluded against the Revenue and in favour of the respondent assessee by the decision of this Court in Commissioner of Income Tax Vs. Happy Hom....

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....rred in holding that the assessee satisfied the condition that the "project is on the size of a plot of land which has a minimum area of one acre" and accordingly is entitled to deduction u/s 80IB of the Income Tax Act, 1961 ? (ii) Whether on the facts and circumstances of the case and in law, the decision of the Income Tax Appellate Tribunal to allow deduction under Section 80IB(10) on t....

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....come of the respondent assessee. However, this additional income (arising on disallowance of expenditure) undisputedly would also be entitled to 100% deduction from tax under Section 80IB(10) of the Act. (c) In the above view, admitting question (iii) in the present facts would be academic. However, we may clarify that this decision is rendered in the context of the facts arising herein particu....