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M/s. Escapade Resorts Pvt Ltd Versus The Assistant Commissioner of Income Tax

2015 (8) TMI 511 - KERALA HIGH COURT

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 re .....

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ffect 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 Section 80IA. If that be so, the view taken by the Tribunal that the initial assessment year is 199 .....

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e 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 .....

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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 .....

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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 .....

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al assessment year is 1999-2000 is incorrect. 3. Although this contention would appear to be attractive, we find that in Section 80IA itself, the term 'initial assessment year' has been defined as the assessment year relevant to the previous .....

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