2011 (11) TMI 857 - AT - Income Tax

Summary

Issues involved: Appeal against order of CIT(A) regarding claim of deduction u/s 80IB(11) for assessment year 2005-06.

Claim of deduction u/s 80IB(11): The appellant, engaged in providing cold chain facility for agricultural produce, claimed deduction under S.80IB. Assessing officer issued notice u/s 148, questioning the claim. In re-assessment, it was argued that cold chain facility includes a series of facilities from harvesting to distribution, consisting of pre-cooling, cold storage, refrigerated carriers, packing, warehousing, and information management system. Assessee contended that definition in S.80IB(14)(aa) is relevant, not opinions of others. CIT(A) relied on tribunal decisions supporting eligibility of cold chain storage facility for deduction u/s 80IB. Tribunal upheld CIT(A)'s decision, citing Agra Bench's ruling affirmed by Allahabad High Court, dismissing Revenue's appeal.

This summary highlights the issues involved in the legal judgment and provides a detailed account of the arguments and decisions related to the claim of deduction u/s 80IB(11) for the assessment year 2005-06.