Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (1) TMI 1767 - ITAT AHMEDABADRevision u/s 263 - withdrawn the claim of deduction u/s. 10A - Revision on on the strength of the statement recorded at the time of survey proceedings - HELD THAT:- We find that the business activities of the assessee fit into the eligibility criteria for claiming the impugned deduction as per the above notification. We find that on the basis of certain discussion at the time of survey proceedings, the assessee formed a belief that she is technically wrong in claiming exemption u/s.10A of the Act which triggered for her request of withdrawal of the claim of deduction. In our understanding of the facts relating to the business activities of the assessee qua the statement recorded at the time of survey, the assessee under a mistaken belief has accepted to withdraw the claim of deduction which she was otherwise legally entitled. Commissioner should not have invoked the powers vested upon him u/s. 263 of the Act merely on the strength of the statement recorded at the time of survey proceedings. A conspectus reading of the statement recorded at the time of survey shows that there is no concession on fact. The concession is only in relation to the law and that too was under a wrong belief. Commissioner further erred in directing the A.O. to withdraw the claim of deduction in subsequent assessment years also i.e. A.Ys. 2008-09, 2009-10 & 2010-11. In our considered opinion, the ld. CIT ought to have verified independently the eligibility of the claim and the deduction permissible to the assessee. Considering the business activities of the assessee as explained during the course of the survey proceedings, in our understanding of the law, the assessee was very much eligible for the claim of deduction u/s. 10A - Decided in favour of assessee.
|