2022 (7) TMI 1610

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.... ORDER PER SUCHITRA KAMBLE, JUDICIAL MEMBER : This appeal is filed by Revenue against the order dated 20.01.2020 passed by the CIT(A)-1, Ahmedabad for the Assessment Year 2016-17. 2. The Revenue has raised the following grounds of appeal :- "1. The CIT (A) has erred in law and on facts in deleting the addition of Rs. 8,91,35,894/- made u/s 80IA of the Act. 2. The....

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....on 80IA of the Income Tax Act, 1961. On verification of Form No. 10CCB, the Assessing Officer observed that the assessee has shown activity of power generation and the total value of machinery and plant used for the said activity is shown at Rs. 766.44 lakhs. The power plant was originally installed by the erstwhile concern M/s Shanti Processor Limited prior to 01.04.2005. The total valu....

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....ore the CIT (A) & the Assessing Officer. 6. The Ld. DR submitted that the CIT (A) has erred in deleting the addition of Rs. 8,91,35,894/- made under Section 80IA(4) of the Act. The Assessing Officer has categorically observed that the old machinery was also part of the estimated claimed deduction by the assessee. Ld. DR further submitted that since the power plant set up by the assessee is....

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....e CIT (A) erred in restricting the addition of Rs. 38,93,576/- made as per provisions of Section 14A read with Rule 8D of the Act of Rs. 1,50,000/-. The Ld. DR submitted that the assessee made huge investment in shares, received dividend of Rs. 3,07,95,922/- for which the calculation of the CIT (A) is totally contradictory to the administrative expenses incurred by the assessee as p....