INCOME TAX OFFICER Vs. SWASTIK ASSOCIATES
LAWS(IT)-2014-5-99
INCOME TAX APPELLATE TRIBUNAL
Decided on May 30,2014

INCOME TAX OFFICER Appellant
VERSUS
Swastik Associates Respondents

JUDGEMENT

KUL BHARAT,JM. - (1.) THIS appeal by the Revenue is directed against the order of the Ld.Commissioner of Income Tax (Appeals) -XV, Ahmedabad ('CIT(A)' for short) dated 24/02/2011 pertaining to Assessment Year (AY) 2008
(2.) THE Revenue has raised the following grounds of appeal: - 1) The ld.Commissioner of Income -tax(A) -XV, Ahmedabad has erred in law and on facts in directing the Assessing Officer to allow the assessee's claim for deduction of Rs.1,07,27,257/ - u/s.80IB(10). 2) The ld.Commissioner of Income -tax(A) -XV, Ahmedabad has erred in holding that the assessee fulfills the conditions laid down for claiming deduction u/s.80IB(10) even when the land was in the name of Society and the assessee had merely executed a works contract. 3) On the facts and in the circumstances of the case, the Ld.CIT(A) -XV, Ahmedabad ought to have upheld the order of the Assessing Officer. 4) It is therefore, prayed that he order of the ld.Commissioner of Income -tax(A) -XV, Ahmedabad may be set -aside and that of the Assessing Officer be restored.
(3.) BRIEFLY stated facts are that the assessee filed its return of income declaring NIL income and claimed deduction u/s.80IB(10) of the Act of Rs.1,07,27,257/ - on 16/09/2008. The case was selected for scrutiny assessment and the assessment u/s.143(3) of the Income Tax Act,1961 (hereinafter referred to as "the Act") was framed vide order dated 30/11/2010, thereby the Assessing Officer(AO) disallowed the deduction amounting to Rs.1,07,27,257/ -. Against this, assessee filed an appeal before the ld.CIT(A), who following the orders in Asst.Years 2006 -07, 2007 -08 allowed the appeal. Against the order of the ld.CIT (A), now the Revenue is in appeal before us. Ground Nos.1 and 2 are inter -connected and, therefore, the same are decided together for the sake of convenience.;


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