Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (10) TMI 67 - GUWAHATI HIGH COURTRevision u/s 263 - Deduction u/s 80IA - Taxability of Transport subsidy received - Held that:- in view of the decision in Meghalaya Steels Ltd. [2010 (9) TMI 679 - GAUHATI HIGH COURT], there can be no escape from the conclusion that the Revisional Authority had seriously erred in law in interfering with the assessment order, dated 08.02.2006, on the ground that the transport subsidy, received by the industrial undertaking of the appellant Company, could not have been deducted by resorting to Section 80IA. By its impugned order, dated 28.01.2011, the learned Tribunal perpetuated the error by agreeing with the views expressed by the Revisional Authority that transport subsidy was not entitled to be deducted in terms of the provisions of Section 80IA. – Decided in favor of Assessee.
|