Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (1) TMI 861 - AT - Income TaxPower of Revision u/s 263 of the Act - Deduction u/s 10A of the Act wrongly allowed – Held that:- The assessment order passed by the AO is a cryptic one and it did not contain any discussion on the issues that were revised by the CIT u/s 263 of the Act - relying upon CIT Vs. Toyota Motor Corporation [2008 (4) TMI 231 - DELHI HIGH COURT] - the issue of deduction u/s 10A has been decided in favour of the assessee, yet the revision order passed by CIT is liable to sustained, since the AO did not make enquiry on the issue and further there is no discussion about the same in the assessment order. Depreciation on vehicle – Vehicle running on hire was allowed @ 40% as against 25% allowable – Held that:- There was no discussion in respect of this issue in the assessment order - the assessee did not make any submissions on this issue before the CIT – there is no reason to interfere with the order of the CIT on this issue – Decided against Assessee.
|