Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (3) TMI 916 - ITAT PUNEDeduction u/s 80IA(4)(iv) - income from eligible project - quantification of claim - claim was revised upward on the ground that, the assessee, in the original calculation of eligible profits, wrongly reduced the amount of depreciation under the Companies Act as against the required deduction under the Income-tax Act - HELD THAT:- CIT(A) allowed the claim without examining the veracity of the amount of depreciation under the Act as well under the Companies Act and further without calling for any remand report from the A.O. This shows that the figures of depreciation under the Companies Act at Rs. 95.43 lakhs and under the Act at Rs. 1,200/- in the fresh revised claim, have not passed out the verification test either by the ld. CIT(A) or the AO and further such figures are also not forthcoming from either the Computation of income or the Annual accounts for the year for verification at our end. Matter is remitted to the file of the A.O for examining the correctness of these two figures. We order accordingly. Deduction u/s 35(2AB) - A.O did not entertain such claim in absence of the assessee having furnished any revised return - HELD THAT:- Approval was granted after filing of the return by the assessee. Form No. 3CL indicates the amount of capital expenditure in respect of Dewas and Baner units at Rs. 14.31 lakhs and Rs.7.25 lakhs respectively and the amount of recurring expenditure for these two units at Rs. 108.62 lakh and Rs. 548.63 lakh respectively for the A.Y. 2014-15. The amount of further weighted deduction allowed in the first appeal to the tune of Rs. 7.00 crore is based on such amounts sanctioned by the Government of India, Ministry of Finance and Technology in respect of Dewas and Baner Units. Since the further claim is fully verifiable from the amount sanctioned by the Government of India, Ministry of Science and Technology, we are satisfied that no interference is warranted in the impugned order on this count in granting deduction on the basis of such certificates. We uphold the impugned order on this score. Appeal is partly allowed for statistical purposes.
|