2022 (7) TMI 59

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....passed by Assessing Officer under section 143(3)r.w.s. 254of the Income Tax Act, 1961 [hereinafter referred to as the "Act"] dated 17.08.2015. 2. The grounds of appeal raised by the assessee are as follows: 1. In law and in the facts and circumstances of the Appellant's case, the ld. CIT(A) has grossly erred in points of law and facts. 2. In law and in facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in confirming disallowing deduction u./s80IB of I.T. Act for Rs.11,09,007/-. 3. In law and in facts and circumstances of the Appellant's case, the learned CIT(A) has grossly erred in holding that charging of interest u/s 234A, 234B,234C and 234D of I.T. Act being mandatory and consequential. 4. Your....

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....gly disallowed Rs.11,32,507/- claimed as deduction u/s.80IB of the Act in the first appeal. The Ld. CIT(A) restricted the addition to the extent of Rs.23,500/- by deleting the addition of Rs.11,09,007/-. The Ld. CIT(A) held that the job charges and other income as eligible for deduction u/s.80IB of the Act. On aggrieved, both the Revenue as well as the assessee preferred appeal before the Tribunal in which the Hon'ble Tribunal has set-aside the issue to the file of Assessing Officer on the following observation: "16. Before us, the Ld. D.R. has submitted that Assessee neither submitted the details before A.O. or CIT(A). Before us the Ld. A.R. has not given any reason for non-submission of the details before the lower authorities. We t....

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....ds to parties and recovered the freight charges at the time of dispatch of goods. This is part of the activity carried out by the Industrial Undertaking and hence part of the profit derived from the Industrial Undertaking and hence deduction u/s.80IB is allowable." 5.However, the Assessing Officer rejected the contentions of the assessee, and held that income cannot be treated to have earned as profit from industrial undertaking and accordingly, corresponding deduction to the extent of Rs.11,09,007/- was disallowed and added to the total income of the assessee for the year under consideration. 6.Aggrieved by the order of the Assessing Officer, the assessee carried the matter in appeal before the ld. CIT(A) who has confirmed the action of ....

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.... Accountant which is placed at page no.15 of the paper book. The assessee submitted the balance sheet and profit and loss account which is placed at page no. 7 to 8 of the paper book where we observed thatjob charges have been shown to the tune of Rs.51,32,114/-. The assessee has shown other income at Rs.8,29,526/-.The fresh charges received from purchaser have been shown under the head "income from other sources". The assessee also submitted the letter dated 25.07.2015 which was submitted before Assessing Officer, showing the details of freight income, which is placed at page no.49 of the paper book. The assessee also submitted the details of freight income which is placed at page no.50 to 56 of the paper book. Therefore, these facts clear....