MALAY N. SANGHVI Vs. INCOME TAX OFFICER
HIGH COURT OF BOMBAY
Malay N. Sanghvi
INCOME TAX OFFICER
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(1.) This Appeal under Section 260A of the Income Tax Act, 1961 (the Act), challenges the order dated 8th January, 2014 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order dated 8th January, 2014 is in respect of Assessment Year 2009-10.
(2.) The Assessee urges only the following question of law for our consideration: "Whether in the facts and in the circumstance of the case and in law, the Tribunal erred in restricting the Appellant's claim of deduction under section 80IB of the Income Tax Act, 1961 to Rs.12,03,773/, invoking the provisions of section 80IA(10) of the Income Tax Act, 1961?".
(3.) This Appeal was on board on 23rd January, 2017. During the course of hearing for admission, it was pointed out by the Appellant that the impugned order restricted the deduction under Section 80IB of the Act by relying upon Section 80IA(10) of the Act. This, without considering the fact that the Appellant's contention that condition precedent for its application, is not present. We were inclined to admit Appeal. However, at that time, it was pointed out that finally this Appeal would need to be restored to the Tribunal for reexamination of the appropriate application of Section 80IA(10) of the Act to the present facts. In the above view, it was requested that the Appeal itself could be disposed of at the stage of admission.;
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