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2019 (2) TMI 322 - HC - Income TaxDisallowance of deduction u/s 80-IC - a new industrial unit at Selaqui, Uttrakhand had started during the assessment year - A.O. was not satisfied with the declarations and was of the view that having regard to the value of the machinery, that previously used machinery for any purpose is more than 20% of the value of the plant and machinery used in the new unit, the assessee has failed to satisfy the conditions laid down in Section 80-IC(4)(ii) - as per ITAT new plant and machinery, even if assumed to be transferred by the assessee from Kala Amb unit to Selaqui unit, it was never put to use to carry out the manufacturing activities to qualify for exemption u/s 80-IC - Held that:- Under Section 260A, this Court is to frame substantial questions of law wherever they do arise. Though the findings of facts by the AO were reversed by the CIT(A), and in turn were set aside by the ITAT, that ipso facto does not attract the jurisdiction of this Court unless the reasoning or the approach of the ITAT is so unreasonable or manifestly irrational. The ITAT in its remit is the final tribunal of fact. In this case, the court is of the opinion that the ITAT performed the task to the extent it could, having regard to the materials which it elaborately and exhaustively analyzed. The inference it drew cannot be called perverse or illegal. No substantial question of law arises.
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