TMI Blog2015 (8) TMI 511X X X X Extracts X X X X X X X X Extracts X X X X ..... ant to the previous year in which the hotel has started functioning its business. Admittedly, the hotel has started business in the previous year relevant to the assessment year 1999-2000. Therefore, even if the approval of the authority is with effect from 12.4.1999, the Tribunal could have decided the issue only in the light of the definition of the term 'initial assessment year' contained in Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . For the Petitioner : Sri Joseph Markose, Sr. Adv, Sri V Abraham Markos, Sri Binu Mathew, Sri Tom Thomas (Kakkuzhiyil), Sri Abraham Joseph Markos, Sri Isaac Thomas, Sri Noby Thomas Cyriac For the Respondent : Sri Jose Joseph, SC for Income Tax JUDGMENT Antony Dominic,J. The issue raised in this appeal is regarding the correctness of the finding of the Tribunal in its order i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 80IA itself, the term 'initial assessment year' has been defined as the assessment year relevant to the previous year in which the hotel has started functioning its business. Admittedly, the hotel has started business in the previous year relevant to the assessment year 1999-2000. Therefore, even if the approval of the authority is with effect from 12.4.1999, the Tribunal could have dec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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