2017 (8) TMI 1482

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....and in the circumstances of the case, the Tribunal was justified in setting aside the order dated 08.03.2010 as passed by the CIT (I), Jaipur under Section 263 of the Income Tax Act whereby the CIT has held that the assessment order dated 04.12.2017 as regards deduction under Section 10BA of the Act was erroneous and prejudicial to the interest of the Revenue for having been made without proper verification?" 3. We have heard counsel for the parties. 4. Counsel for the respondent has taken us to the order of the Tribunal whereby the Tribunal while considering the matter, has rightly observed as under:- " 15. The Ld.CIT has not recorded a finding that the assessee has not employed 20 or more workers. The Ld.CIT in his order he....

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....d. It may be noted that the nails are of special type having artistic and antipue look. (v) Fitting of brass and iron items again with a view to give artistic and antique look. (vi) Filling with a view to smoothen the surface. (vii) Sanding. (viii) Carving with a view to bring the artistic value and to show that these are antique items, (ix) And lastly polishing. (x) Thereafter, various wooden items are fitted according to the need and design of the exportable wooden article ie. wooden moulding is fitted, Inlay is done." 16. Hence the A.O. took a possible view that assessee is entitled to deduction u/s 10BA. The Ld. CIT has not recorded a finding that the article as exported by ....