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COMMISSIONER OF INCOME TAX-VI Versus VISUAL TECHNOLOGIES INDIA PVT LTD - 2012 (1) TMI 12 - DELHI HIGH COURT
Deduction u/s 80IC Quantum of deduction u/s 80IC new industrial undertaking set up by the assessee in the A.Y. 2005-06 at Dehradun various documents placed by assessee to prove the existence of Dehradun unit/undertaking - Held that - In view of the factual findings recorded by the CIT (A), affirmed by the Tribunal, and non-placement of any contrary material or documents by Revenue, there is no reason to interfere with the order of allowing deduction u/s 80IC to assessee. - Decided against the Revenue. - The assessee may be eligible u/s 80 IC but the quantum of deduction is an incidental but an important aspect which must be considered and examined even though no question has been raised by the appellant on this aspect. The Tribunal did not examine the question of quantum of deduction inspite of the factual matrix referred to and stated in the assessment order. Therefore, the matter is remitted to the Tribunal to decide afresh the quantum of deduction u/s 80IC. - Decided in favor of revenue.