2020 (1) TMI 1331 - AT - Income Tax

Deduction u/s. 80IC - income earned from sale of scrap - Income derived from the activities of the eligible business or not? - AO denied the claim of assessee in claiming deduction in respect of income from sale of manufacturing scrap at Roorkee Plant - HELD THAT - CIT(A) by placing reliance on the order in assessee s own case 2012 (3) TMI 658 - ITAT PUNE and allowed the claim of assessee by holding that the income earned from sale of scrap is an eligible business and the assessee is entitled to claim the said income as deduction u/s. 80IC of the Act vide para 5.2 of impugned order. No contrary order was brought on record by the appellant-revenue. Therefore we find no infirmity in the order of CIT(A) and it is justified. - Decided against revenue.

Summary

The Appellate Tribunal ITAT Pune dismissed the Revenue's appeal against the CIT(A)'s order allowing the claim of assessee u/s. 80IC for income from sale of scrap, holding it eligible for deduction. The Tribunal found no infirmity in the CIT(A)'s decision and dismissed the Revenue's appeal. (2020 (1) TMI 1331 - ITAT PUNE)