2014 (10) TMI 1047

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....ranted. Ld. CIT held that the assessment order passed u/s 143(3) on 8.3.2013 was erroneous in so far as it is prejudicial to the interest of revenue. 2. Aggrieved the assessee is in appeal before us. 3. We have heard Shri Rajesh Mahna , Ld. Counsel for the assessee and Shri R.S. Meena, the Ld. CIT, DR on behalf of the revenue. 4. On a careful consideration of rival submissions we hold as follows :- Ld. Commissioner of Income Tax in his notice u/s 263 dated 18.3.2014 stated that prima facie deduction claimed u/s 80IC of the Act by the assessee is not justifiable on the following grounds :- (a) Assessee is assembling and trading LCDs and it is not carrying on manufacturing of goods. (b) The unit of the assessee is not in a n....

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.... details of items (pages 133 to 150) form No. 1 issued by single winow clearing agency, Department of Industry, Govt. Of Himachal Pradesh, Najfgarh (page 151); 10CCB Certificate (pages 152 to 158); qualification of service of engineering (page 159) and copies of written submissions made before the Learned CIT(Appeals) (pages 160 to 165). 8. Under these facts and circumstances, we fully concur with the findings of the Learned CIT(Appeals) that the assessee was very much eligible for the claimed deduction u/s 80IC of the Income-tax Act,1961 which was wrongly denied by the Assessing Officer. Thus, he has rightly directed the Assessing Officer to pass a consequential order accepting the claim of the assessee for deduction u/s 80IC(2)(b)(ii) ....