TMI Blog2016 (2) TMI 1308X X X X Extracts X X X X X X X X Extracts X X X X ..... interest income from fixed deposits. In respect of other income other than the interest income from fixed deposits, this Tribunal is of the considered opinion that the assessee is eligible for exemption u/s 80IA, therefore, the alternative claim made by the assessee does not survive in respect of the income from other sources other than the interest income. Therefore, the alternative ground raised by the assessee is dismissed. Disallowance u/s 43B being provision of 80% of cenvat credit amount relating to service tax - Raising a specific ground as Ground No.29 before the CIT(A) - HELD THAT:- It is an admitted fact that the assessee has contested disallowance u/s 43B of the Act being provision of 80% of cenvat credit amount relating to service tax. Admittedly, this ground raised by the assessee as Ground No.29 was not disposed of by the CIT(A). Therefore, this Tribunal is of the considered opinion that the CIT(A) has to dispose of this specific ground raised by the assessee as Ground No.29. Accordingly, this ground raised by the assessee with regard to disallowance u/s 43B is remitted back to the file of the CIT(A). The CIT(A) shall consider and decide the issue in accordance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ound that the lease rent, rent from auditorium etc. are derived from infrastructure created by the assessee, therefore, eligible for exemption u/s 80IA of the Act. 7. On the contrary, Shri Pathlavath Peerya, ld. Departmental Representative submitted that lease rental and rent from auditorium are rental income and it cannot be construed as received from the industrial undertaking. 8. We have heard both the parties and perused the material available on record. The assessee created an infrastructure facility and received rental income from such facility. Therefore, this Tribunal is of the considered opinion that other than the interest from fixed deposits and from other financial institutions, the rental income is eligible for exemption u/s 80IA of the Act. In fact, this Tribunal in assessee s own case in I.T.A.No. 2123/Mds/2011 dated 2.4.2013 found that the assessee is eligible for exemption u/s 80IA in respect of such income. By following the order of this Tribunal in assessee s own case, the orders of the lower authorities are set aside and the Assessing Officer is directed to grant exemption u/s 80IA of the Act in respect of other income. 9. The assessee has also raised a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer, after considering the nature of the rent received by the assessee, allowed the claim of the assessee u/s 80IA of the Act. Therefore, reopening of the assessment by issuing notice u/s 148 amounts to change of opinion even though the reopening was within four years from the end of the assessment year in which the return of income was filed. 15. On the contrary, Shri Pathlavath Peerya, ld. DR submitted that the assessee has received income from auditorium, revenue sharing income, interest income, other income, and Operation Maintenance charges. The total receipt was ₹ 15,56,96,944/-. The Assessing Officer, in the original assessment considered the receipt of rent to the extent of ₹ 55,14,17,471/- as income derived from infrastructure project and allowed exemption u/s 80IA of the Act. However, the Assessing Officer reopened the assessment subsequently by issuing notice u/s 148 of the Act on 29.3.2011. Since the income was wrongly classified under the head income from infrastructure facility, according to the ld. DR, the Assessing Officer has rightly reopened the assessment by issuing notice u/s 148 of the Act. The ld. DR further submitted that since the Asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other sources and this Tribunal in I.T.A.No. 2104/Mds/2011 dated 27.9.3013 in the earlier assessment year found that the assessee is not eligible for deduction u/s 80IA of the Act. In view of the above, for the year under consideration also, the assessee is not eligible for deduction u/s 80IA in respect of interest income. 23. Now coming to other income other than interest income, this Tribunal in assessee s own case in I.T.A.No.2123/Mds/2011 dated 2.4.2013 found that the assessee is eligible for deduction u/s 80IA of the Act in respect of rental income, other than other income and interest income. In view of the above, this Tribunal is of the considered opinion that the assessee is eligible for deduction u/s 80IA of the Act in respect of rental income other than interest and other income. 24. The next ground of appeal is with regard to disallowance u/s 43B of the Act. 25. Shri R.Vijayaraghavan, ld. Counsel for the assessee submitted that the assessee contested the disallowance made by the Assessing Officer u/s 43B by raising a specific ground as Ground No.29 before the CIT(A). However, the same was not disposed of by the CIT(A). 26. On the contrary, the ld. DR submitte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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