Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (2) TMI 446 - AT - Income TaxDeduction u/s 80IC - whether the incentive is not part of the profit and gains derived from the business of industrial undertaking so as to make the assessee eligible to deduction u/s 80IC? - assessee company is a 100% EOU engaged in creating and processing of Mushrooms, culinary herbs and other fruits and vegetables - Held that:- Keeping in view the undisputed fact that this is the 5th year of claim made by the assessee u/s 80IC and the assessee has been continuously allowed deduction u/s 80IC qua transport subsidy and AO/CIT(A) have not brought on record any reason for departing from the previous years as on the same set of facts pertaining to the year under assessment, the issue is required to be restored to the AO to decide afresh in the light of the orders passed in the preceding years. So, the grounds no.1 to 5 in both the assessment years i.e. 2009-10 & 2010-11 are determined in favour of the assessee for statistical purposes.
|