2021 (10) TMI 516

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.... of induction Heat Seal Cap liner material and Induction Wads. Assessee electronically filed its return of income for A.Y. 2015-16 on 29.09.2015 declaring total income at Rs. 4,25,52,140/- after claiming deduction of Rs. 1,61,27,898/- u/s 80IC of the Act. The case was selected for scrutiny and thereafter assessment was framed u/s 143(3) of the Act vide order dated 03.05.2017 and the total income was determined at Rs. 5,87,59,960/- inter alia by denying the claim of deduction u/s 80IC of the Act and other additions. Aggrieved by the order of AO, assessee carried the matter before the CIT(A). CIT(A) vide order dated 11.01.2019 in Appeal No. 26/17-18 allowed the appeal of the assessee. Aggrieved by the order of CIT(A), Revenue is now in appeal....

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....r hand reiterated the submissions made before the lower authorities and submitted that the Coordinate Bench of Tribunal on identical facts in A.Y. 2010-11 decided the issue in favour of the assessee. He further submitted that in assessee's own case for A.Y. 2013-14, the Co-ordinate Bench of Tribunal in ITA No.4546/Del/2017 order dated 06.01.2020, by following the order of Tribunal in assessee's own case for A.Y. 2010-11 & 2012-13 has held that the assessee to be eligible for deduction u/s 80IC of the Act. He further submitted that the issue being identical to that of earlier years is not in dispute as has been noted by the AO in his order. He therefore submitted that the appeal of the Revenue be dismissed. 7. We have heard the rival subm....

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..... 28/89 dated 26/9/1989 and 141/2/2003 dated 6/10/2003 issued by the Government of India, Ministry of Finance (Department of Revenue), New Delhi allowed deduction under section 80 IC of the Act to the assessee. Revenue is therefore in this appeal. 4. At the outset, Ld. AR submitted that the Ld. CIT(A) followed the Board Circulars for granting relief to the assessee. He further submitted that under similar set of facts for the assessment years 2010-11 and 2012-13 a coordinate Bench of this Tribunal dealt with this issue in assessee's own case in ITA No. 5994/Del/2014 and 6550/Del/2015 and by order dated 18/02/2019 Tribunal returned a finding that inasmuch as the industrial unit was set up on 26/10/2006, and the initial assessmen....