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2015 (1) TMI 245 - GUJARAT HIGH COURTEntitlement for deduction u/s 80IA - plant and machinery used by earlier owner or not - Whether the Tribunal has substantially erred in holding that the assessee is entitled to deduction u/s 80I – Held that:- The Tribunal was rightly of the view that there is no case for the AO to denying the the benefit of deduction u/s. 80I - The new unit in the name of Harsidh Detergents had not set up any business by the previous owner M/s. Harsidh Specific Family Trust who had only purchased some amount of the new plant and machinery intending to start a new undertaking for manufacture of detergent power in the city of Ahmedabad - deduction u/s. 80I is available to the industrial undertaking and not the the assessee and prior to having been over by the assessee, the plant and machinery valuing ₹ 6,92,397/- was in fact never used by the earlier owner viz. Harsidh Specific Family Trust – thus, the Tribunal has rightly observed that the plant and machinery were never used by the earlier owner, therefore, the assessee is entitled to grant deduction u/s 80I – the order of the Tribunal is upheld – Decided against revenue.
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