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2015 (8) TMI 511 - KERALA HIGH COURT

2015 (8) TMI 511 - KERALA HIGH COURT - [2015] 377 ITR 322 (Ker) - Benefit of Section 80IA - as per Tribunal the initial assessment year for the purpose of Section 80IA is the assessment year 1999-2000 - Held that:- In Section 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 199 .....

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l is only with effect from 12.4.1999. However, that does not enable the assessee or the Tribunal to postpone the initial assessment year which term is statutorily prescribed and fixed. On the other hand, if the prescribed authority had wrongly fixed the date of commencement of the business, it was for the assessee to get that error committed rectified in appropriate proceedings, which has not been done in this case. Appeal dismissed. - ITA. No. 217 of 2015 - Dated:- 30-7-2015 - Antony Dominic An .....

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the assessment year 1999-2000. 2. According to the Senior counsel appearing for the appellant, the benefit of Section 80IA can be availed only on satisfaction of condition No.(v) prescribing that the hotel is for the time being approved by the prescribed authority. It is pointed out that by Annexure A order dated 13.9.2001 the Prescribed Authority granted approval only with effect from 12.4.1999 relevant to the assessment year 2000-2001. On this basis, counsel contends that the order of the Tri .....

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