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2017 (8) TMI 1122 - AT - Income TaxRevision u/s 263 - AO has not considered the provisions of section 80A(5) before allowing the claim of deduction u/s 80IB(10) - AO has allowed deduction claimed u/s 80IB(10) even though such claim was not made u/s 139 or in the revised returns filed u/s 153A - assessee contended that, the issue of claim of deduction u/s 80IB(10) was subject matter of appeal before the CIT(A) as well as the Hon’ble ITAT have considered the issue and after taking into account the facts of the case and also the provisions of section 80A(5) has directed the AO to examine the issue of deduction claimed u/s 80IB(10). Held that:- Though the Ld.CIT(A) did not allow the claim of the assessee, the ITAT has admitted the additional ground filed by the assessee and directed the AO to examine the other conditions prescribed u/s 80IB(10). The AO, after satisfying with the other conditions, has allowed the claim of the assessee towards deduction u/s 80IB(10) of the Act. Therefore, we are of the view that the claim made by the assessee u/s 80IB(10) is in accordance with law and the AO has rightly allowed the claim made by the assessee. Accordingly, the order passed by the AO is not prejudicial to the interest of the revenue. The assessment order passed by the AO u/s 143(3) r.w.s. 254 of the Income-tax Act, 1961 is neither erroneous nor prejudicial to the interest of the revenue. - revision order set aside - Decided in favour of assessee.
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