2018 (7) TMI 2343

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....ome Tax(Appeals)-5, Bangalore, is opposed to the law and not on the facts and circumstances of the case. 2. Whether the CIT(A) is justified in law by allowing the claim of deduction u/s. 80IA(4)(iii) when the assessee was not able to submit notification of CBDT which is mandatory as per Rule 18(C)(4) of the I.T. Rules for claiming deduction u/s. 80IA(4)(iii)". 3. The appellant craves leave to add, alter, amend or delete any other grounds on or before hearing of the appeal." 3. The assessee is a company. The assessee claimed deduction of a sum of Rs.4,45,54,029 u/s. 80IA(4)(iii) of the Income-Tax Act, 1961 ["the Act"]. The assessee claimed that it had built an industrial technology park on the land allotted by KIADB and is operating ....

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....tification dt. 21.2.2012 is also an undisputed fact on record. That the CBDT Notification has reproduced / contains the conditions stipulated in the approval letter of the Ministry of Commerce and Industry, Govt. of India dt. 13.4.2006 and is related to existence of three industrial units in the assessee's industrial parks (viz. STP). Further, the assessee has brought on record a certificate dt. 28.5.2012 from the Joint Director, District industrial Centre, Bangalore to the effect that the assessee has been operating and maintaining the Industrial park (SIP) since 30.11.2005 and that the said Industrial Park has 12 separate independent and identifiable units since inception and that none of the units individually occupy more than 50% of....

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.... 1961." The CBDT Notification dt. 21.2.2012 stipulates a condition of commencement of the Industrial Park / STP by 31.3.2006, the inevitable conclusion is that the benefits are available to the assessee from March, 2006, if the Industrial Park commences by that time. Any other reference, in our considered opinion, would be inappropriate in view of the fact that the Joint Director, District industries Centre, Bangalore has issued a commencement of Activities Certificate certifying that the Industrial Park / STP of the assessee commenced its activities on 30.11.2005. 5.4.2 In this regard, we have perused the decision of the Hon'ble Gujarat High Court in the case of Creative Infocity Ltd (supra) relied upon by the assessee and find that....