Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (3) TMI 327 - AT - Income TaxDenial of claim of deduction u/s. 80IA(4)(iii) - new industrial undertaking with development of industrial park - HELD THAT:- We find that the assessee, Salarpuria Softzone vis-à-vis M/s. Soft Zone Tech Park Ltd was approved by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, Notification No. S.O 305(E), New Delhi, the 8th September, 2020. The approval is for the period of 1st day of April, 1997 to 31st day of March, 2006. The Central Govt. has approved the said Industrial Park vide Ministry of Commerce and industry’s letter No. 15/23/2006-IPC/D dt. 25th July, 2006. In view of above discussion, we respectfully follow the proposition of law by the coordinate bench of this Tribunal in assessee’s own case [2016 (2) TMI 1293 - ITAT KOLKATA] and in view of the Notification of the Central Govt. referred above, the order of the Ld. CIT(A) has to be reversed on this issue on the grounds on which the disallowance of claim was made are not legally and factually sustainable. - Decided in favour of assessee.
|