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2006 (8) TMI 252 - AT - Income TaxDeduction u/s 80-IA - Manufacture Or Production - HELD THAT:- The ld AR points out, that it is settled position of law that wherever two views are possible, the view which favours the assessee has to be followed. We find substance in the contentions of ld AR that in view of later decision of Hon'ble Supreme Court in the case of CIT vs. Sesa Goa Ltd. [2004 (11) TMI 14 - SUPREME COURT] and CIT vs. Mysore Minerals Ltd. [1999 (9) TMI 10 - KARNATAKA HIGH COURT], the lower authorities were not justified in denying the claim of deduction u/s 80-IA of the Act to the assessee based on an earlier decision of Hon'ble Supreme Court in the case of Lucky Minmat (P) Ltd.[2000 (8) TMI 6 - SUPREME COURT]. Thus respectfully following the same, we direct the AO to consider the claim of deduction u/s. 80-IA of the Act of the assessee in the aforesaid assessment years. The first appellate order is, therefore, set aside. The ground Nos. 1 to 3 are thus allowed in favour of assessee. The appeals are thus partly allowed.
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