2024 (10) TMI 363

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....spondent : Shri Raja Sengupta, Addl. CIT, Sr. DR ORDER PER SANJAY GARG, JUDICIAL MEMBER: The present appeal has been preferred by the assessee against the order dated 29.02.2024 of the Ld. Commissioner of Income Tax (Appeals) ADDL/JCIT(A)-5, Mumbai (hereinafter referred to as the "Ld. CIT(A)" passed u/s. 250 of the Income-tax Act, 1961 (hereinafter referred to as the "Act"). 2. The short issue....

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....m 10CCB along with the return of income, but even if the same has not been filed with the return of income, but the same was filed before the final order of assessment was made, the assessee was entitled to claim deduction u/s. 80-IB of the Act. 4. so far as the reliance of the ld. DR on the another decision of the Hon'ble Supreme Court in the case of Pr. CIT-III, Bangalore & anr. Vs. M/s. Wipro ....

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....d upon the decision of this court in the case of G. M. Knitting Industries Pvt. Ltd. (supra), relied upon by the learned counsel appearing on behalf of the assessee is concerned, section 10B(8) is an exemption provision which cannot be compared with claiming an additional depreciation under section 32(1)(ii-a) of the Act. As per the settled position of law, an assessee claiming exemption has to st....