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2014 (11) TMI 1227 - ITAT PUNEDeduction u/s 80IA(4)(iii) in respect of income derived by it from the industrial park - specific condition in the notification pertaining to the assessee regarding the number of units was not fulfilled - Whether it is open to the Tribunal to rely upon rule 18C of the Rules and certain provisions from the Industrial Park Scheme, 2002 as laying down the condition construction of the minimum no. of units should be completed before deduction could be claimed under section 80IA(4)(iii) of the Act, when no such condition exists in the said section? - HELD THAT:- Allowability of deduction u/s. 80IA(4)(iii) of the I.T. Act has been decided against the assessee by the Tribunal in assessee’s own case for A.Y. 2003-04. In view of the order of the Tribunal in assessee’s own case, the grounds raised by the Revenue are allowed. On further appeal by the assessee, the Hon’ble High Court has already admitted the 3 substantial questions of law which are already mentioned at para 5 above. Therefore, in view of the declaration u/s.158A(1) filed by the assessee in Form No.8, we direct the Assessing Officer to amend the order if the issue is decided in favour of the assessee by the order of the higher authorities at a later date. Grounds raised by the Revenue are accordingly allowed.
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