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TMI Blog2015 (1) TMI 1369X X X X Extracts X X X X X X X X Extracts X X X X ..... : The revenue has filed this appeal challenging the order dated 16.07.2012 passed by Ld CIT(A)-29, Mumbai and it relates to the assessment year 2009-10. The only issue urged by the revenue relates to the deduction allowed by Ld CIT(A) u/s 80IA of the Act. 2. We heard the parties and perused the record. The assessee claimed deduction u/s 80IA of the Act in respect of wind mill generating power. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wer or commences transmission or distribution of power.... Though the assessee has started generating power in AY 2006-07, it started claiming deduction u/s 80IA from AY 2009-10. Thus the present assessment year is the initial year in which the assessee started claiming deduction u/s 80IA of the Act. 4. The provisions of sec. 80IA(5) states that, for the purposes of determining the quantum of ded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, since no profit was remaining after such adjustment. 5. The Ld CIT(A), however, followed the decision rendered by Hon'ble Madras High Court in the case of Velayudhaswamy Spinning Mills (P) Ltd Vs. ACIT (2010)(38 DTR (Mad) 57, wherein the Hon'ble High Court had held as under:- " 6. Adverting to the facts of the case, the initial assessment year in this case starts from 2004-05 since the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the case laws relied on by the Departmental Representative are delivered before the amendment to section by Finance Act, 1999. Before the amendment, the initial assessment year was defined in the Act but after the amendment there is no definition for initial assessment year in the Act and there is option to the assessee in selecting the year of claiming relief under s. 80-IA. In view of this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eduction u/s 80IA was claimed. 6. At the time of hearing, the Ld A.R submitted that the view taken by the Ld CIT(A) is also supported by the following decisions:- (a) Excel Crop Care (ITA No.3100/Mum/2010) dated 25-07-2014 (b) CIT Vs. Anil H Lad (102 DTR (Kar) 241) (c) Emerald Jewel Industry Pvt Ltd (53 DTR 262)(Mad) (d) Shevie Exports Vs. JCIT (2013)( 156 TTJ (Mum) 525) 7. Since the Ld ..... X X X X Extracts X X X X X X X X Extracts X X X X
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