9911796707
TMI Blog2024 (8) TMI 1298X X X X Extracts X X X X X X X X Extracts X X X X ..... 531121(1), which has in turn has arisen from the assessment order dated 02.12.2019 passed by the Assessing Officer u/s. 143 of the Income-tax Act 1961. 2. The grounds of appeal raised by Revenue with the Income Tax Appellate Tribunal, Ahmedabad Bench, Ahmedabad in appeal memo , reads as under:- a) The Ld.CIT(A) has erred in law and on facts in allowing the deduction u/s. 80IA of the Act of Rs. 1,56,66,658/- claimed by the assessee. b) The appellant craves leave to add, alter and or to amend all or any the ground before the final hearing of the appeal. 3. The brief facts of the case are that assessee is engaged in the manufacturing and job work of electronically engraved copper roller , which are used for printing and packaging industr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... usiness though have been allowed set off against other income in earlier years. The AO observed that the assessee is not eligible for deduction u/s. 80IA of the Act. The AO relied upon the decision of ITAT in the case of ACIT v. Goldmine Shares & Finance (P) Ltd. ,reported in (2008)113 ITD 209, to disallow the claim of deduction u/s 80IA. Thus, during the course of assessment proceedings, the AO made disallowance u/s. 80IA of the Act to the tune of Rs. 1,56,66,658/-, and the income computed by the AO vide assessment order u/s 143(3),dated 02.12.2019, was Rs. 10,29,41,620/- as against returned income of Rs. 8,72,74,960/-. 4. Aggrieved , the assessee filed first appeal before Ld. CIT(A). The assessee had relied on the orders of this Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Section 80IA of the Income Tax Act 1961 was made in the assessment order passed u/s 143(3) of the Income Tax Act, 1961 for the Assessment Year 2016-17 Considering the fact that the aspect of the immediate case are homogeneous to the issue under consideration in the preceding assessment years decided upon by the Hon'ble Judicial Authorities, it is noted that the assessee is eligible to claim deduction u/s 80IA of the Income Tax Act, 1961 and the disallowed made by the Assessing Officer u/s 80IA of the Income Tax Act, 1961 amounting to Rs 1,56,66,658/- is deleted. 6. In the result, the appeal is Allowed." Hence, it was held by ld. CIT(A) that the assessee is eligible for claiming deduction u/s. 80IA of the Act, and the appeal of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re the certificate of commissioning issued by GEDA which is placed in PB/Page 7 w.r.t. Windmill of the capacity 0.800 MW installed at Village Navadra, Taluka Kalyanpur, District Jamnagar which was installed on 07.03.2006, and the impugned assessment year is the last assessment year for which deduction was claimed by the assessee(Page 7/PB). Similar is the certificate for the windmill installed on 14.12.2011 issued by GEDA w.r.t. windmill installed at Kalyanpur, District Jamnagar(PB/9), against which deduction u/s. 80IA was claimed for the first year being initial year i.e. 2014-15. The chart of claim of deductions u/s 80IA for assessment year 2011-12 to 2023-24 is duly placed by the assessee in PB/Page 2. The auditors certificate's with For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess even through they have been allowed to be set off against other income in earlier years. The ld. CIT(A) allowed the deduction u/s 80IA to the assessee to the tune of Rs. 1,56,66,658/- as claimed by the assessee , by following the decision of Hon'ble Madras High Court in the case of Velayudhaswamy Spinning Mills Private Limited(supra) and also after considering the decision's of ITAT in assessee's own case for the assessment year 2009-10 to 2013-14. There is no quarrel so far as the proposition of law laid down by Hon'ble Madras High Court in the case of Velayudhaswamy(supra), wherein the Hon'ble Madras High Court held that loss in the year earlier to the initial assessment year already absorbed against the profit of other business canno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y decision of Hon'ble High Court, or judgment and order of Hon'ble Supreme Court is brought to our notice. It is well settled that if there are two contrary decision of Hon'ble High Court wherein the said High Court's are non jurisdictional High Courts, then the decision favourable to the assessee shall apply, and more so the later decision of Hon'ble Delhi High Court has taken a view in favour of the assessee after considering decision of Hon'ble Karnataka High Court which has taken a view in favour of Revenue. Reference is drawn to the judgment and order of Hon'ble Supreme Court in the case of CIT v. Vegetable Products(1973) 1 SCC 442. Thus, we upheld the view taken by ld. CIT(A) in favour of the assessee by following the judgment and ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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