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2017 (6) TMI 823 - ITAT HYDERABAD

2017 (6) TMI 823 - ITAT HYDERABAD - TMI - Allowability of deduction u/s 80IA(4) - Held that:- The issue under consideration is squarely covered by the decision of the coordinate bench of this Tribunal in the case of Annapurna Builders (2012 (11) TMI 1214 - ITAT HYDERABAD). DR neither controverted this fact nor brought any contrary decision in this regard. Therefore, we uphold the order of the CIT(A) in allowing the assessee’s claim of deduction u/s80IA(4)(iii) as his decision is in consonance wi .....

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he revenue on this issue. - ITA No. 1746/Hyd/2016 - Dated:- 7-4-2017 - SHRI D. MANMOHAN, VICE PRESIDENT, AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER For The Revenue : Shri K.J. Rao For The Assessee : Shri P. Raghava Narayana ORDER PER S. RIFAUR RAHMAN, A.M.: This is an appeal of the revenue directed against the order of the learned Commissioner of Income-tax(A) - 2, Hyderabad, dated 29/01/ 2016 for AY 2006-07. 2. On perusal of record, we find that there was a delay of 236 days in filing the app .....

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le cause in filing the appeal belatedly, the delay may be condoned and the appeal be admitted. 3. After hearing the submissions of the ld. DR in filing the appeal belatedly, we condone the delay and admit the appeal. 4. Brief facts of the case are that the assessee is in the business of Civil Construction. A search operation was conducted on 19.02.2008 on the group. In response to the notice the assessee filed a return of income of admitting income of ₹ 81,72,1589/-. The case was selected .....

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he case for scrutiny and passed an order u/s.143(3) r.w.s 254 of the Income Tax on 28.02.2014, on a total Income of ₹ 2,51,75,680/- as against ₹ 81,72,158/- declared by the assessee. While doing so the A.O made the following additions: Particulars Rs. 1. Disallowance of direct/indirect expenses 49,63,343/- 2. Addition on undisclosed sales 7,00,000/- 3. Disallowance u/s 40A(3) 12,28,980/- 4. Disallowance u/s 40(a)(ia) 1,01,11,201/- The A.O also did not allow the claim of deduction u/s .....

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l Government rescind the approval and notification issued, by following the jurisdictional Tribunal's decision in the case of M/s. Annapurna Builders in ITA No.1006/Hyd/2012 dated 27.11.2012? 3. In the facts and circumstances of the case, whether the CIT(A) is correct in allowing the ground of the assessee even when the assessee deviated from the specific condition imposed by the CBDT that no single unit shall occupy more than 50% of the allocable industrial area of an industrial park? 4. In .....

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amp; 3 relating to allowability of deduction u/s 80IA(4) of I.T. Act, 1961, it is observed that the assessee owns, maintains and operates an industrial park by name Fortune 9 , Somajiguda. The assessee claimed relief u/s 80IA(4) of the Act, in respect of lease income derived from the units leased out in this industrial park. The AO observed that the assessee out of allocable constructed area of 1,64,632 sft., more than 50% area i.e. 1,25,515 given to M/s ADP Pvt. Ltd. Thus, the assessee deviated .....

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e: 1 to 10 • Clause 5 of the above notification gives the procedure of the automatic approval route • Clause 6 of the above notification refers to criteria for Automatic Approval • sub-Clause F of Clause 6 stipulates that no single unit can occupy more than 50% of the allocable industrial area • Clause 7 refers to the permission to be granted for under Non- Automatic Route and the approval of the empowered committee in such scenario on case to case basis. • Clause 8 refe .....

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the limit that 50% or more should not be given applies only to automatic route application and not to on automatic application. 4. The Assessee having applied under the non automatic route has given in the said application at Clause VII that the proposed number of units are only 3. (Page 23). 5. In response to the application under the non automatic route, The Ministry of Commerce and Industry, Government of India, vide its letter dated 25.09.2006 has accorded permission for setting the industri .....

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sions, the Assessing Officer's action in denying benefit of uls.80IA is contrary to the law and facts. The A 0 ought to have seen that the assessee has not violated any of the clauses of the application made by it under the non automatic route. II. Without prejudice to the submission made above it is submitted that even if the assessee has violated any of the conditions as laid down in the notification, then the permission accorded has to be withdrawn and cancelled by the Central Government. .....

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g the decision of the coordinate bench in the case of Annapurna Builders in ITA No. 1006/H/12, on which reliance placed by the assessee, the CIT(A) directed the AO to allow the deduction claimed by the assessee u/s 80IA(4)(iii) of the Act. 11. Considered the rival submissions and perused the material facts on record. The issue under consideration is squarely covered by the decision of the coordinate bench of this Tribunal in the case of Annapurna Builders (supra). The ld. DR neither controverted .....

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