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2010 (1) TMI 261 - HC - Income TaxIndustrial undertaking- The assessee claime deduction under section 80-IA of the Act. The Assessing officer denied the benefit of section 80-IA to the assessee and the Commissioner (Appeals) took the view that the audit report as prescribed under the Act was not filed and the conditions of section 80-IA(2) were not satisfied. The Tribunal held that the assessee was entitled to the special deduction. Held that- as regard the claim under section 80-IA(2) the statement has been found to be supported by the data and figures and the Tribunal had found that the proper books of account were maintained and were audited and the audit reports in prescribed forms were filed. The assessee was entitled to special deduction u/s 80-IA for the Assessment years 2003-04 and 2004-05.
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