TMI Blog2014 (7) TMI 1199X X X X Extracts X X X X X X X X Extracts X X X X ..... essee from Bhuvaneshwar unit and Bangalore unit was permissible? - Held that:- Assessing Authority has taken into consideration all the details mentioned in the computation statement which is taken from the books of account maintained by the assessee and has recorded the finding. The Commissioner proceeds on the basis that the figures found in the calculation statement has no basis ignoring that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed in proceedings under Section 263 of the Act. 2. The Assessing Officer in the assessment order after setting out the facts and amounts under various heads restricted the benefit of provision of Sections 80-IA(a) and 80HHC of the Act. The assessee was asked to comment on the proposed disallowance. The assessee did not give any reply. Therefore, the assessment order came to be passed restricti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h and pass orders after giving adequate opportunity to the assessee. 3. Aggrieved by the said order, the assessee preferred an appeal to the Tribunal. The Tribunal on careful consideration of all the materials came to the conclusion that a perusal of the observations made by the Assessing Officer would indicate that he had, in fact, considered the entire details as found in the computation stat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to consider the following substantial question of law: Whether the Tribunal was correct in holding that the order of assessment computing deduction under Section 80-IA of the Act was neither erroneous nor prejudicial to the interest of the Revenue as percentage of expenditure adopted by the assessee from Bhuvaneshwar unit and Bangalore unit was permissible? 5. We have heard the learned ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
