Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (3) TMI 1025 - AT - Income TaxValidity of the reopening done u/s.147 - eligibility of the assessee for claiming deduction u/s.10A - Held that:- The claim made by the assessee u/s.10A of the Act cannot be treated as an entirely new claim, since the basis of the claim was profits earned by it from its STPI unit. It might be true that profits earned from STPI was not eligible for deduction u/s.10B of the Act. However, admittedly, such profit was eligible for deduction u/s.10A of the Act. Just because the assessee mentioned a wrong Section, in my opinion, it could not be deprived of a legislate claim for which it was otherwise eligible. In my opinion lower authorities erred in not considering correctness of the claim of deduction made by the ld. Assessing Officer u/s. 10B of the Act Since the claim made by the assessee u/s.10A of the Act, cannot be considered as a fresh claim as the claim emanated from working of the same STPI unit on which it had earlier preferred a claim under section 10B of the Act. Thus, claim of the assessee cannot be considered as fresh one. The question whether assessee was eligible for claiming deduction u/s.10B of the Act ought have been considered on the merits of such claim - set aside the orders of the lower authorities and remit the issue regarding eligibility of the assessee for claiming deduction u/s.10A of the Act back to the file of the ld. Assessing Officer for consideration afresh - Decided in favour of assessee for statistical purposes.
|