2025 (6) TMI 499

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....n, Senior Advocate with Mr.Ashwani K. Lal, Mr.Aditya Sood and Mr.Praveen, Sharma, Advocates For the Respondent: Mr. Neeraj Sharma and Mr.Ishan Kashyap, Advocates ORDER Tarlok Singh Chauhan, Judge ( Oral ) Aggrieved by the order dated 16.01.2019, passed by the Income Tax Appellate Tribunal (for short the 'ITAT') whereby, deduction under Section 80-IC at the rate of 100% has been denied,....

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.... appellant for the year A.Y. 2005-06 (being the first year of establishment of the unit) to A.Y. 2009-10 (fifth year) claimed deduction under Section 80-IC of the Act at the rate of 100% of the profit derived by the said unit. However, during the assessment year 2010-11 (i.e. sixth year), the appellant undertook substantial expansion at the unit by making additional investment in plant and machine....

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....ied deduction under Section 80-IC of the Act @ 100% of profit derived from the newly expanded unit, but allowed the same @ 25% of profit, by taking the relevant Assessment year (i.e. A.Y. 2013-14) as the "9th Assessment year" instead of "4th Assessment year" for the existing unit set-up in the previous year relevant to A.Y. 2005- 06, thereby the Assessing Officer made disallowance of deduction und....

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....ellant had already availed the period of full deduction of 100% in the earlier five years. 6. It is vehemently argued by Mr.Vishal Mohan, Senior Advocate assisted by Mr. Ashwani K. Lal, Advocate and rightly so that the order passed by the ITAT is not sustainable in the eyes of law, as it is solely based upon the judgment rendered by two Judge Bench of the Hon'ble Supreme Court in CIT vs. M/s Cl....