2013 (11) TMI 1732

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....1A) of Rs. 1.46,564/-. 1.1 It was proved before the ld. CIT(A) that the conditions under 80IB(11A) are fulfilled. Merely on the ground that no transportation facility has been provided, the claim is rejected, which is bad in law. 2. The ld. CIT(A) has erred in not allowing the interest paid on the bank overdraft of Rs. 1,93,691/-. 3. The ld. CIT(A) has erred in maintaining the addition of Rs. 12,00,000/- on the alleged advances given by the assessee for the cash in hand. The addition has been upheld on surmises and deserves to be deleted. 2. Rival contentions have been heard and records perused. The brief facts of the case are that the assessee is an individual deriving income from warehouse and interest from bank. The return ha....

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....he assessee was not entitled for benefit of deduction u/s 80IB(11A) of the Act. The action of the AO was confirmed by the ld. CIT(A). 4. From the record, we found that the assessee had shown receipt of warehouse rent from ITC and National Bulk Handling Corporation on which deduction was claimed u/s 80IB (11A) of the Act . Merely because the assessee was not having his own facility of transportation, the assessee's claim was declined. We found that the assessee was having full facility of warehouse and storage, however, transportation facility was taken on hire. Merely because the assessee was not having transportation facilities of his own, the claim of deduction cannot be declined. In the interest of justice, we restore this issue back ....