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2019 (11) TMI 1098 - AT - Income TaxRevision u/s 263 - claim of deduction u/s 80IC - HELD THAT:- In the present case, Pr. CIT simply stated that the A.O. during the course of assessment proceedings for the A.Y. 2015-16 noticed various discrepancies/infirmities vis-à-vis the claim of deduction u/s 80IC inspite thereof, the A.O. had allowed the deduction under section 80IC in the case of the assessee for the relevant A.Y. 2012-13. However the Ld. Pr. CIT has set aside the order passed by the A.O. under section 143(3) of the Act for the year under consideration i.e. A.Y. 2014-15 but no observation relating to claim for deduction under section 80IC of the Act has been given for the said A.Y. On the contrary the A.O. passed the assessment order dt. 30/11/2016 by mentioning that the notice under section 142(1) of the Act alongwith questionnaire was issued to the assessee on 16/06/2016 requiring the assessee to furnish detail/information. He also stated that the assessee was engaged in the business of manufacturing data card to be used in inverters as well as UPS and furnished all the relevant documents which had been examined and taken on record. A.O after due verification of available facts and records allowed the claim of the assessee and accepted the returned income. We therefore are of the view that the Ld. Pr. CIT was not justified in holding that the assessment order dt. 30/11/2016 passed by the A.O. was erroneous or prejudicial to the interest of the Revenue particularly when there is no such discussion for the said assessment year in the impugned order, the only discussion was relating to the A.Y. 2012-13. Accordingly, we do not see any justification on the part of the Ld. Pr. CIT in setting aside the assessment order passed by the A.O. - Appeal of the Assessee is allowed.
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