2018 (4) TMI 1821

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... in allowing the deduction u/s 80IA(4)(iii) of the I.T. Act, 1961, when there was no notification at the time of completion of the assessment. (The notification at the time of completion of the assessement. (The notification no.209/2007/F.NO.178/78/2007-ITA-I of CBDT has been actuality issued on 03/07/2007). 2. Whether on the facts and in the circumstances of the case and in law, the Ld CIT(A) has erred in holding that the assessee is eligible for deduction u/s 80IA(4)(iii) of the I.T. Act, 1961 though the specific condition in the notification pertaining to the assessee regarding the number of units was not fulfilled. 3. Whether on the facts and in the circumstances of the case and in law, the Ld CIT(A) has erred in not considering the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....me of hearing, the order of the Ld. Commissioner of (Appeals), Pune may be vacated and that of the Assessing Officer be restored. 3. The Revenue is in appeal against the order of CIT(A) in holding the assessee to be eligible for deduction under section 80IA(4)(iii) of the Act. 4. The learned Authorized Representative for the assessee pointed out that the issue raised in the present appeal has been decided in favour of assessee for several assessment years starting from assessment year 2005-06. 5. The learned Departmental Representative for the Revenue on the other hand, stressed that the issue was decided by the Tribunal against the assessee in assessment year 2003-04. 6. We have heard the rival contentions and perused the record. Brief....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....order under section 143(3) of the Act was completed for assessment year 2005-06 on 28.12.2007. The copy of said order is placed at pages 112 to 118 of the Paper Book. The Assessing Officer notes that the undertaking had to be approved by the Ministry of Commerce & Industries in the Central Government. The terms and conditions of the scheme were amended and the assessee had complied with all conditions in assessment year 2005-06, relating to notification of CBDT for the first time. The Assessing Officer vide para 5 also notes the records for assessment years 2003-04 and 2004-05. Since the assessee had satisfied the requirement regarding number of units after the same was adopted at 105, the Assessing Officer held the assessee to have satisfi....