Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (3) TMI 230 - HC - Income TaxDeduction u/s 80IA - HELD THAT:- Tribunal has rightly held that the appeal has become academic in view of the fact that the total income of the assessee for the A.Y. 1995-96 even after inclusion of the disallowance made by the Assessing Officer was ₹ 314.84 Lakhs, against which the claim under Section 80IA allowed by the Assessing Officer was at ₹ 322.05 Lakhs. The Tribunal also considered that even the CIT (A) has also allowed the revised claim of deduction made by the assessee under Section 80IA of the Act, 1961 at ₹ 630.35 Lakhs keeping in mind the fact that the income of the assessee prior to deduction under Section 80IA of the Act was ₹ 314.84/-. Lakhs. Therefore, the issue of revised claim made by the assessee of ₹ 690.35 Lakhs is of no consequence. Similarly, for the A.Y.1997-98, the assessee's total income prior to deduction under Section 80IA of the Act, 1961 stands assessed at ₹ 190.68 Lakhs. However, the eligibility to deduction under Section 80IA stands confirmed by the Assessing Officer at ₹ 354.02 Lakhs. Therefore, the consideration of revised claim of ₹ 487.39 Lakhs is no consequence as the assessed income is much less than the eligibility under Section 80IA of the Act, 1961. Disallowance of consultancy fees - HELD THAT:- Both, the CIT (A) and the Tribunal have given concurrent findings of fact and, hence, we answer Question (B) being factual in favour of the assessee and against the Revenue.
|