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2015 (5) TMI 181 - ITAT AHMEDABAD

2015 (5) TMI 181 - ITAT AHMEDABAD - TMI - Deduction u/s. 80IB - Held that:- no additional facts have been brought by the AO except that the activity undertaken by the assessee is not a manufacturing activity, but only assembling activity - Following decision of Bhagat Textile Engineers Versus Department of Income Tax [2013 (4) TMI 231 - ITAT AHMEDABAD] - CIT(A) has already treated acitivity of assessee as manufacturing one and held that assessee is eligible for deduction u/s. 80IB - Decided agai .....

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treating the activity of the assessee as manufacturing activity and observing that the assessee is eligible for deduction u/s. 80IB amounting to ₹ 5,55,42,533/- the I.T. Act, 1961. 2. It is therefore, prayed that the order of the learned CIT(A) be set aside and that of the Assessing Officer be restored. 2. Assessee is a partnership firm and claimed to have running an industrial undertaking in the name and style of M/s. Bhagat Textile Engineers in backward area of U.T. of Dadra & Nagar .....

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nufacturing activity as well as assessee could not commenced its manufacturing activities before 31.03.2004. Accordingly, he rejected the claim of assessee amounting to ₹ 5,58,93,233/-. 2.1 Matter was carried before the First Appellate Authority, wherein CIT(A) following its predecessor s decision for A.Y. 2005-06, 06-07 & 07-08 decided the issue in favour of assessee. 2.2 Before us, learned Authorized Representative pointed out that Tribunal has decided the similar issue in favour of .....

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