2020 (9) TMI 609

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.... : Appellant, Isolloyd Engineering Technologies Ltd. (hereinafter referred to as 'the assessee') by filing the present appeal sought to set aside the impugned order dated 14.03.2017 passed by the learned Commissioner of Income-tax (Appeals)-39, New Deli qua the assessment year 2012-13 on the grounds inter alia that :- "1. The Ld. CIT (A) has erred in law and on facts in confirming the disallowa....

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....nder section 80IC of the Income-tax Act, 1961 (for short 'the Act') qua its Supercera Fibres unit, Polyurethane unit and Acoustic unit @ 30% on the first two units and @ 100% on the last one. However, Assessing Officer (AO) noticed substantial amount of scrap sales having been credited in the profit and loss account qua which assessee has claimed deduction under section 80IC of the Act at the resp....

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.... by partly allowing the appeal. Feeling aggrieved, the assessee has come up before the Tribunal by way of filing the present appeal. 4. Assessee has not preferred to put in appearance despite issuance of the notice and consequently, we proceeded to decide the present appeal with the assistance of the ld. DR as well as on the basis of documents available on the file. 5. We have heard the ld. Depa....

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....rgings Ltd. (2011) 336 ITR 444 (Del.). However, ld. CIT (A) though mentioned in para 5.3 of the impugned order that, "the assessee's contention appears prima facie plausible yet it is necessary to examine the assessee's claim in the present case to ensure that the facts of the case aligning with the extant law". Ld. CIT (A) accepting the contentions raised by the assessee allowed the deduction und....