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2014 (6) TMI 467 - AT - Income TaxDeletion of disallowance of deduction u/s 80IC of the act – Held that:- Following ACIT, Central Circle 2, New Delhi Versus M/s. Wings Pharmaceuticals Pvt. Ltd. [2014 (4) TMI 530 - ITAT DELHI] - the value of old machinery is not more than 20% - It has also returned a finding that the assessee has complied with the provisions of the Act for its claim of deduction u/s 80 IC of the Act - no change in facts or law has been pointed out - the order of the CIT(A) is upheld in allowing deduction u/s 80 IC of the Act – Decided against revenue. Restriction of disallowance u/s 14A of the Act – Held that:- The assessee is found to have made a disallowance in returning its income - The disallowance was worked out in terms of Section 14A of the Act - The Assessing Authority made total disallowance which also included the aforesaid disallowance made by the assessee himself - In result the CIT(A) is found to have upheld the disallowance in addition to the disallowance already made by the appellant himself in the computation of income filed with the return of income - No infirmity has been pointed out by the Revenue in appeal in the findings returned and conclusion reached by CIT(A) – Decided against Revenue.
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