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2023 (2) TMI 1020 - KARNATAKA HIGH COURTDeduction u/s 80-IA(4)(iii) - Violation of conditions laid down in Industrial Park Scheme, 2002 - AO disallowed the same on the ground that the assessee had rented out more than 50 per cent. of the allocable Industrial area which is in contravention of the Industrial Park Scheme, 2002 - HELD THAT:- Revenue contention that assessee had leased out more than 50 per cent. of the total allocable area in favour of one of the lessees (M/s. IBM Daksh) has been found to be incorrect based on the remand report submitted by the Assessing Officer. Although that aspect was before the Commissioner of Income-tax (Appeals), the Commissioner of Income-tax (Appeals) had dismissed the appeal for the assessment year 2007-08 on a different ground. The Income-tax Appellate Tribunal has recorded cogent reasons while allowing the appeal for the assessment year 2007-08.The questions of law are answered in favour of the assessee.
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