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2015 (11) TMI 1872 - AT - Income Tax


Issues:
- Eligibility for deduction u/s 80IB of the I.T. Act

Analysis:
The appeal was filed against the order of the CIT(Appeals) pertaining to the assessment year 2006-07. The main issue raised was the eligibility of the assessee for deduction under section 80IB of the Income Tax Act. The assessee argued that a previous decision by the Tribunal in their own case for the assessment year 2004-05 supported their eligibility for the deduction. The Department, represented by the learned D.R., contended that the earlier decision was not elaborately discussed and therefore not applicable to the current case.

Upon careful consideration, the Tribunal noted that in the previous case for the assessment year 2004-05, it had been held that the assessee was entitled to the deduction under section 80IB. Despite the Department filing an appeal against this decision before the High Court and the CIT(Appeals) not accepting the Tribunal's decision due to alleged lack of proper information, the Tribunal found that judicial discipline mandated following its own previous order. The Tribunal emphasized that since the facts were identical and the High Court had not reversed the Tribunal's decision in the previous case, the assessee was indeed eligible for the deduction under section 80IB.

Therefore, the Tribunal set aside the order of the CIT(Appeals) and allowed the appeal filed by the assessee, concluding that the assessee was eligible for the deduction under section 80IB. The order was pronounced in the Open Court on the 30th day of November 2015.

 

 

 

 

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