2023 (9) TMI 374

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....nt By : Shri Vivek Kumar Upadhyay, Sr. DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER:- This appeal by the assessee is preferred against the order of the ld. CIT(A) - 28, New Delhi dated 14.03.2018 pertaining to Assessment Year 2013-14. 2. The grievance of the assessee is two-fold : (i) Firstly, the assessee is aggrieved by the denial of deduction u/s 80IAB of the Income-tax Ac....

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....s a SEZ developer and is primarily engaged in the business of developing and leasing of property in IT/ ITES Sector, Noida. While scrutinizing the return of income, the Assessing Officer noticed that the assessee has claimed deduction on sale of food and beverages amounting to Rs. 18, 80,716/-. 5. The assessee was asked to justify its claim and the assessee replied that it is in the activity of....

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....e assessee has added back Rs. 5,63,167/-. The Assessing Officer was of the opinion that any disallowance/reversal will enhance the income and claim of deduction will be higher. 8. The Assessing Officer added Rs. 56,31,167/- to the income of the assessee under section 68 of the Act. 9. The assessee carried the matter before the ld. CIT(A) but without any success. 10. Before us, the ld. cou....

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....a] is concerned, it has authorized activities which can be undertaken by the developer, approved company developer by default, and one of the items is cafeteria/canteen for staff in the processing area. Since the income of the assessee is not derived from cafeteria/canteen for staff, therefore, the said Instruction is not applicable to the facts of the case. 14. Reliance on the decision of the ....