2017 (11) TMI 1008

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....tax appeal with the following proposed question of law : "Whether the Income-tax Appellate Tribunal is justified in law and facts in deleting the disallowance of deduction claimed by the asses see of Rs. 38,86,41,444 under section 80-IA(4) ?" 2. The facts leading to present tax appeal in nutshell are as under : (2.1) The respondent-assessee filed the return of income for the assessment year 2010-11 declaring the total income at Rs. 5,74,84,220. The case of the assessee was selected for scrutiny. During the course of assessment proceedings, it was noticed that the assessee-company has claimed deduction of Rs. 40,05,24,711 under section 80-IA(4) of the Income-tax Act, 1961 (hereinafter referred to as "the Act") on infrast....

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....lowance made by the Assessing Officer of the deduction claimed by the assessee under section 80-IA of the Act. (2.3) In the appeal preferred by the Revenue, learned Tribunal by the impugned judgment and order has confirmed the order passed by the learned Commissioner of Income-tax (Appeals) deleting the disallowance of deduction claimed by the assessee of Rs. 40,05,24,711 under section 80-IA(4) of the Act. (2.4) Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Tribunal, the Revenue has preferred the present tax appeal with the aforesaid proposed question of law. 3. We have heard Shri Pranav G. Desai, learned advocate appearing on behalf of the Revenue. We have also perused th....