2021 (1) TMI 1298

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.... H VIRK(7392) for the Opponent No. 1 ORAL ORDER (PER : HONOURABLE MR. JUSTICE J.B.PARDIWALA) 1. This tax appeal under Section 260A of the Income Tax Act, 1961 (for short "the Act, 1961") is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal "A" Bench, Ahmedabad dated 01.06.2020 in the ITA No.2526/Ahd/2017 for the A.Y. 2014-15. The ....

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....es of the case, the Appellate Tribunal is justified in deleting the deduction in the fixed assets of Rs.145, 96,81,521/- without appreciating the fact that once the provision of Section 2(15) r.w.s. 13(8) is applicable, the assessee forfeits all the exemptions under Sections 11 and 12 of the Act?" 2. We have heard Ms. Mauna Bhatt, the learned senior standing counsel appearing for the Revenue an....