2011 (8) TMI 1128 - HC - Income Tax

Denial of deduction u/s 80-IA(4) - income derived by the assessee from development of eligible infrastructural facilities - Held that - Order of the Income Tax Appellate Tribunal shows that the Income Tax Appellate Tribunal passed the order in favour of the Revenue by relying upon its decision in the case of B.T. Patil and Sons Belgaum Const. (P) Limited V/s. ACIT 2009 (10) TMI 521 - ITAT MUMBAI It is not in dispute that the said decision of the Income Tax Appellate Tribunal in the case of B.T. Patil & Sons (Supra) has been recalled by the Tribunal by order in BT. PATIL & SONS BELGAUM CONSTRUCTION (P.) LTD. VERSUS ACIT 2012 (6) TMI 316 - ITAT, PUNE The impugned order of the Tribunal relating to AY 2003-04 is quashed and set aside and the matter is restored to the file of the Income Tax Appellate Tribunal for fresh decision in accordance with law.

Summary

The High Court Bombay quashed the order of the Income Tax Appellate Tribunal in favor of the Revenue, relating to the assessment year 2003-04, and restored the matter for fresh decision. The appeal was disposed of with no costs. (Case citation: 2011 (8) TMI 1128 - BOMBAY HIGH COURT)