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2019 (4) TMI 1574 - AT - Income TaxRectification u/s 254 - impugned order taking its employees’ stock option plan “ESOP” figure at ₹26,17,37,836/- instead of the correct amount of ₹2,61,73,34,836/- - HELD THAT:- Revenue is very very fair in not disputing the latter correct figure. We therefore direct necessary modification in our order in assessee’s appeal [2018 (11) TMI 1611 - ITAT KOLKATA] to this effect. The assessee’s “ESOP” claim shall now be read as of ₹2,61,73,34,836/-. Its first grievance raised in the instant miscellaneous application is treated as accepted. Rectification u/s 254 - disallowing u/s 80IA - Tribunal followed its earlier order - legislature enacted the new Electricity Act, 2003 - The very issue as to whether the tribunal’s said earlier order in assessment year 2002-03 would operate or not post facto the above legislative developments was considered by yet another co-ordinate bench’s decision - HELD THAT:- DR fails to dispute all these developments and also the fact that our impugned order had not taken into consideration this latter case law already complied in paper book we treat our earlier direction as per assessment year 2002-03 order as an apparent error requiring necessary modification u/s 254(2). We therefore make it clear that the AO shall hold frame his consequential computation in tune with the provisions in new Electricity Act, 2013 so far as assessee’s sec. 80IA deduction claim in Revenue’s appeal is concerned. The assessee succeeds in its instant second substantive ground as well as “lead” MA.
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