2019 (4) TMI 1154

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....he order passed by Ld. CIT(A) is erroneous and the Ld. CIT(A) has erred in deleting addition made by the AO on account of disallowance of deduction from Rs. 8,96,12,593/- to Rs. 4,97,57,537/- claimed by the assessee u/s. 80IB of the I.T. Act, 1961 with reference to the specific and detailed findings in the assessment order. ii. The appellant craves, leave or reserving the right to amend modify, alter, add or forego any ground(s) of appeal at any time before or during the hearing of this appeal. 2. The brief facts of the case are that assessee filed its return of income on 31.10.2015 at an income of Rs. 1,14,21,220/-. The return was processed u/s. 143(1) of the Income Tax Act, 1961 (In short "Act) on 1.3.2006 at the returned inco....

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....ipop Unit, though eligible for deduction u/s. 80IB at 100&, had losses. Therefore, the AO held that deduction u/s. 80IB shall be allowed at an amount of Rs. 4,97,57,537/- as against the claim of Rs. 8,96,12,593/- and assessed the income of the assessee at Rs. 3,55,12,610, after taking into effect the disallowance in deduction u/s. 80IB vide his order dated 31.12.2007 passed u/s. 143(3) of the Act. Against the assessment order, assessee appealed before the Ld. CIT(A), who vide his impugned order dated 01.12.2015 has allowed the appeal of the assessee. Aggrieved with the impugned order, Revenue is in appeal before the Tribunal. 3. On the other hand, Ld. DR relied upon the order of the Assessing Officer and reiterated the contentions rai....

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....aim of deduction u/s. 80IB in respect of gumbased unit was not allowed in the assessment year 2003-04 by the lower authorities and the matter was travelled to the ITAT and the Tribunal vide its order dated 19.12.2008 passed in ITA No. 1562/D/2007 has restored the matter to the file of the AO and pursuant to the directions of the Tribunal, the AO passed the order against the assessee, against which the assessee filed the appeal before the Ld. CIT(A) in the second round of appeal, who vide his impugned order dated 18.6.2012 has decided the issue in favour of the assessee and against which the Revenue filed its appeal before the Tribunal which was dismissed by the Tribunal vide order dated 9.10.2015 in ITA No. 4794/Del/2012 for the assessment ....