TaxTMI 
TaxTMI 
2021 (12) TMI 370
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....f delay of 470 days in filing the appeal. The explanation offered by the Revenue is far from being satisfactory. Nevertheless being conscious of the fact that we have to decide an appeal under section 260A of the Income Tax Act, we have briefly heard the learned counsel for the parties on merits and we find that out of the four assessment years, which are subject matter of this appeal, three of the assessment years the tax effect is below the threshold limit and, therefore, the Revenue cannot prosecute the appeal and this leaves us with only the assessment year 2009-2010. The Tribunal has followed an earlier decision of this Court in respect of the said assessment year. Therefore, we exercise discretion and condone the delay in filing the a....
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....rnataka ? 4. Whether on the facts and circumstances of the case, the learned Tribunal erred in deciding the issue of allowability of deduction under section 80IA of the Act in favour of the assessee and against the Revenue without considering the Tax Audit Report which specifically mentions that the nature of business of the assessee is advertising which does not quality for exemption under section 80IA [4] ? 5. Whether on the facts and circumstances of the case, the learned Tribunal erred in allowing 100% depreciation in hoardings which have been put to use for less than 180 days in place of 50% as per section 32 [1] of Income Tax, 1961 ? 6. Whether on the facts and circumstances of the case, the Income Tax Appellate Tribunal is c....
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....al considered the fact and have returned the finding on merits. The Revenue's contention is that the assessee is only an advertising firm putting banner for their own purpose and, therefore, the question of claiming of any deduction under section 80IA of the Act would not arise. This appears to be factually incorrect as is seen from the order passed by the CIT [A] as well as the Tribunal where the Tribunal has clearly held that the assessee is engaged in infrastructure development which involves construction of foot over bridge as well as the bus shelter and, therefore, the assessee is entitled to deduction under section 80IA of the Act. The Tribunal followed the decision of this Court in the case of Commissioner of Income Tax, Kolkata-IV, ....