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2015 (7) TMI 1065 - AT - Income TaxDeduction u/s 80IA - AO computed deduction u/s 80IA after adjusting the notional loss brought forward from the year of commencement as against the initial year of claim - CIT(A), by following the judgment of Velayudhaswamy Spinning Mills (P) Ltd (2010 (3) TMI 860 - Madras High Court ) allowed the claim of the assessee - Held that:- After hearing both parties, we find that mere pendency of the SLP before the Apex Court cannot be a reason for not following the judgment of the Jurisdictional High Court. It is not in dispute that the judgment of the Jurisdictional High Court is squarely applicable to the facts of the case. Therefore, the CIT(A) has rightly followed the judgment of the Jurisdictional High Court and allowed the claim of the assessee. This Tribunal do not find any infirmity in the order of the CIT(A) and accordingly, the same is confirmed. - Decided against revenue
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