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TMI Blog2012 (11) TMI 104X X X X Extracts X X X X X X X X Extracts X X X X ..... - no interference is called for in the well reasoned order passed by first appellate authority - Decided against the assessee. - I.T.A. No.143(Asr)/2012, C.O. No.20(Asr)/2012 - - - Dated:- 11-7-2012 - SH. H.S. SIDHU AND SH. B.P.JAIN, JJ. ORDER PER BENCH ; The Revenue has filed the present appeal against the order of the CIT(A), Jammu, dated 27.02.2012 for the assessment year 2009-10 on the following grounds: 1 On the facts and circumstances whether the Ld. CIT(A) was right in allowing relief on account of deduction u/s 80IB on Central Excise Duty refund interest subsidy by relying upon orders of Hon'ble High Court if J K, Jammu which has been delivered not on merits of the issue but holding the receipt to be a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her deduction. 1. On the facts and circumstances whether the Ld. CIT(A) was right in allowing relief on account of deduction u/s 80IB on addition made on account of inadmissible items on account of higher deduction as the assessee has contravened the provisions of the Act, in view of the decision of jurisdictional Bench in the case of M/s. Kashmir Tubes reported in ITA No.145(Asr)/2005 dated 07.12.2007 where such disallowances were upheld by the Hon ble ITAT, Amritsar. 2. We have heard both the parties and perused the relevant material available with us. We are of the view that as regards the issue involved in ground Nos. 1 to 4 relating to deduction under section 80IB on Excise Duty Refund Interest subsidy, it is an admitted fact t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s on account of higher deduction and no prejudice is caused to the assessee and the ld. first appellate authority has rightly decided this issue in favour of the assessee and against the Revenue. This ground of the revenue is also dismissed. 5. In C.O. 20(Asr)/2012, the assessee has raised following grounds: 1. That the Ld. CIT(A) was correct on the facts and law in allowing relief on account of deduction u/s 80IB of the Income-tax Act, 1961, on Excise Duty Refund and interest subsidy by relying upon the order of the Hon ble High Court of Jammu Kashmir. The department has got no locus stand and reason for coming in appeal before the Tribunal and the appeal of the department may be dismissed. 2. Again, the ld. CIT(A) has grossly e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(A) has also held that the assessee has not made any argument to this proposition before him. Therefore, the ld. first appellate authority has rightly upheld the issue in dispute by relying upon the decision of the Hon ble Punjab Haryana High Court in the case of M/s. Abhishek Industries 156 Taxman 257. The case law relied upon by the Ld. counsel for the assessee in the case of S.A. Builders Vs. CIT (Appeal) reported in (2007) 288 ITR 1 (SC) is not applicable in this case because the assessee has failed to establish that the assessee has advanced funds in dispute to the sister concern M/s. N/s. Balaji Pigments (P) Ltd; for any business purpose. 8.1. Keeping in view the above discussions, we are of the view that no interference is ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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