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2016 (5) TMI 111 - ITAT MUMBAIDeduction u/s. 35AD - expenditure incurred in construction of a SILO (warehouse) for storage of agricultural produce - Held that:- CIT(A) noted that it is not in dispute that the manner in which assessee has used its warehousing facility has enabled savings on storage cost, which it had to otherwise incur in the past years. The underlying point is that the warehouse has been utilised in the course of business. Therefore, in our considered opinion, CIT(A) made no mistake in holding that mere usage of the warehousing facility for captive purposes would not disentitle the assessee from the claim of deduction u/s. 35AD of the Act inasmuch as the assessee has otherwise complied with all the requirements to claim deduction u/s. 35AD of the Act. Therefore, we conclude by holding that the order of CIT(A) deserves to be affirmed, which we hereby do. - Decided in favour of assessee
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