Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (10) TMI 2232 - AT - Income TaxReopening of the assessment - exemption allowed u/s 10(23C)(iiiab) disallowed - CIT(A) allowed the claim - Held that:- The facts and circumstances are identical for the assessment year under consideration and the CIT(A) has decided the issue of validity of reopening by following the order of this Tribunal in the assessee’s own case. Accordingly, we do not find any error or illegality in the impugned order of the CIT(A) qua this issue. The same is upheld. claim of exemption u/s 10(23C)(iiiab) - The Tribunal in the assessee’s own case for assessment year 2007-08 [2012 (9) TMI 947 - ITAT MUMBAI] has considered the grant of more than 50% as substantial finance by Government. There is no dispute that the assessee received Government grant of more than 50% of the expenditure during the year. Therefore, this issue is covered in favour of the assessee by the order of this Tribunal in the assessee’s own case. Accordingly, we do not find any reason to interfere with the findings of the CIT(A) qua this issue. - Decided in favour of assessee.
|