Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (10) TMI 1047 - ITAT DELHIRevision u/s 263 by CIT - As per CIT AO has wrongly granted deduction u/s 80IC - HELD THAT:- On perusal of the above paragraph in the assessment order, coupled with the facts that in the earlier assessment year the same AO denied the exemption u/s 80IC to the assessee on the very same grounds and the facts that the CIT (Appeals) has reversed such addition, we are of the opinion that the AO has properly applied his mind and hence take a plausible view. Thus applying the proportions laid down in the case of CIT vs. Max India Ltd.[2007 (11) TMI 12 - SUPREME COURT] and case of Malbar Industries Co. Ltd. Vs. CIT 243 ITR 83 (SC)[2000 (2) TMI 10 - SUPREME COURT] we conclude that order passed u/s 263 is bad in law. - Decided in favour of assessee.
|