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2015 (11) TMI 1268 - AT - Income TaxEligibility of deduction u/s.80lC - CIT(A) allowed the claim - Held that:- The profits declared by the assessee on these two proprietary units located in "Baddi" Himachal Pradesh, which is exempt from taxation u/s 80(IB), is abnormal. The net profits declared for the A.Y. 2003-04, 2004-05 and 2005-06 are 56.96%, 51.75% and 52.88% for the A.Y. 2006-07 and 2007-08, the profits shot up to 79.87% and 78.47%. Such abnormal figures in these years is not explained by the assessee. It is well settled that when the assessee claims an exemption, burden lies on it, to prove that he is entitled to exemption. In this case the burden has not been discharged on the issue of quantum of exemption. The order of the First Appellate Authority, in our view is not well reasoned. The order has not given any reason as to why the A.O. was wrong on each of his conclusions. We set aside the matter to the file of the Ld.CIT(A) with a direction to pass a speaking and reasoned order on each of the observations of the Ld.A.O. - Decided in favour of revenue for statistical purposes.
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