Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (5) TMI 1221 - AT - Income TaxDeduction u/s 80IB - Claim allowed for initial initial year - Whether once the deduction is allowed in the initial year then the revenue cannot deny the same in the subsequent years? - HELD THAT:- We note that that the appeal of the assessee has been allowed by ld CIT(A) by holding that Act on the ground that deduction was allowed in the initial year i.e. AY 2003-04 after carrying due verification and enquiry and similar deduction was allowed in AY 2004-05 & 2005-06. CIT(A) has also recorded a finding a fact that deduction allowed in AY 2003-04, 2004-05 and 2005-06 have not been disturbed and therefore the deduction claimed in the subsequent year cannot be rejected by following the ratio as laid down in decisions of various by various High Courts namely Paul Brothers [1992 (10) TMI 5 - BOMBAY HIGH COURT] Simple Food Product Pvt. Ltd. [2017 (8) TMI 646 - BOMBAY HIGH COURT] as discussed in the appellate order. Accordingly we are inclined to uphold the same by dismissed the appeal of the revenue.
|