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2020 (12) TMI 188 - AT - Income TaxDeduction u/s 80IC - income earned from sale of scrap - assessee in the present case is a company which is engaged in manufacture and sale of insulated wires, cables, etc - HELD THAT:- As the issue involved in the year under consideration as well as all the material facts relevant thereto are similar to the earlier years including A.Y. 2014-15, we respectfully follow the orders of Tribunal for the said years and uphold the order of ld. CIT(A) directing the Assessing Officer to allow the claim of assessee for deduction u/s 80IC of the Act in respect of sale of scrap. The appeal of the Revenue dismissed. Disallowance u/s 14A read with rule 8D - HELD THAT:- As the issue involved in the year under consideration as well as all the material facts relating thereto are similar to A.Ys.2008-09 to 2011-12, we respectfully follow the common order of the Tribunal [2017 (11) TMI 1929 - ITAT PUNE] deciding a similar issue in favour of the assessee for the said years by relying inter-alia, on the decision of the Hon‟ble Jurisdictional High Court in the case of Commissioner of Income Tax Vs. Ultra Tech Cement Ltd. [2017 (2) TMI 1005 - BOMBAY HIGH COURT] and delete the disallowance made by the Assessing Officer and confirmed by the ld. CIT(A) u/s 14A of the Act read with Rule 8D of the Rules. - Decided in favour of assessee.
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