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2016 (10) TMI 811 - PUNJAB AND HARYANA HIGH COURTDeduction u/s 80IB - ascertaining first year of commencement of production - Held that:- The first sale bill was issued after 01.04.2006. The initial assessment year 2007-2008 is mentioned in form 10CCB of the assessee’s audit report and no objection had ever been raised in respect thereof. In that form, the date and year of commencement of operation was mentioned as 07.05.2006 which was accepted by the revenue. In fact, in the previous assessment year, the work had been shown as being in progress. Further, still even the power consumption bills for the six months period ending 16.03.2006 showed that only five units had been consumed. Based thereon, the Tribunal’s inference that there was no production activity till 31.03.2006 cannot be faulted. The excise returns submitted by the assessee for the year ending 31.03.2006 are of nil quantity manufactured and it was the excise returns for the month of May, 2006 that for the first time indicated the production - Decided against the revenue.
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