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2024 (1) TMI 658 - ITAT RAJKOTRevision u/s 263 - Deduction u/s. 80IB(11) - CIT observed that the assessee had claimed and allowed deduction u/s. 80IB(11) of the Act, the undertaking is eligible for such said deduction subject to fulfillment of condition that it begins to operate such facility on or before first day of April, 1999, but before the first day of April, 2004. However, in this case, as per Form No. 10CCB, the date of commencement of operation/activity by the assessee was 01-04-2016 hence the assessee is not eligible for deduction u/s. 80IB(11) - as per CIT AO while completing the assessment has not examined the conditions stipulated in section 80IB(11A) as the assessee is having business of processing, observation and packaging of fruits and vegetables and whether he is eligible for the same deduction or not? - HELD THAT:- It is pertinent to note that in the questionnaire asked by the AO, he has totally overlooked that the assessee is not eligible for deduction u/s. 80IB(11). Thus, AO has committed error which amounts to erroneous assessment order without looking into the proper/correct section that of section 80IB(11A) of the Act under which the assessee should have opted for deduction. Thus, this amounts to erroneous order as well as prejudicial to the interest of Revenue. The contention of the ld. A.R. that this is a mistake and it should have been rectified u/s. 154 will also not come in picture because the assessee has claimed deduction under the section which is not applicable to the assessee and has not pointed out this mistake at the assessment proceedings or after the assessment order passed. Once, the invocation of 263 has been done by the Pr. CIT, the assessee cannot state that the same is a mistake and can be rectified u/s. 154 of the Act. This revisionary power was rightly invoked by the PCIT u/s. 263 of the Act and therefore the appeal of the assessee is dismissed.
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