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TMI Blog2012 (11) TMI 109X X X X Extracts X X X X X X X X Extracts X X X X ..... Dated:- 12-10-2012 - Shri A. K. Garodia and Shri Kul Bharat, JJ. Revenue by : Sri D.P. Gupta, CIT- D.R. Assessee by : Sri Pawan Kumar, A.R. ORDER PER : KUL BHARAT, JUDICIAL MEMBER:- This appeal of the assessee is directed against the order of Ld. Commissioner of Income Tax (Appeals) Gandhinagar dated 14-12-2009. The assessee has raised following grounds: 1. THAT the impugned order of Learned Commissioner of Income tax (Appeals) --Gandhi Nagar (''Ld. CIT (A)") dated 14.12.2009 passed in respect of the appeal by the Appellant against the order passed under Section 143(3) of Income Tax Act, 1961 ( Act") dated 30.12.2008 by the Learned Assistant Director of Income Tax (International taxation) Ahmedabad ( Ld. AO ), i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al and in the facts and in circumstances of the case the aforesaid delay if any deserves to be condoned and the Ld. CIT(A) ought to hear and dispose the appeal on merits. 3. THAT without prejudice lo the above grounds of appeal on validity of order of Ld. CIT(A) of dismissing an appeal of the Appellant in limine, the Ld. CIT(A) also erred in confirming the action of the Id. AO in assessing the total income at Rs., 19,81,25,664/- as against returned income at Nil computed under the normal provisions of the Act and the assessment order passed under wrong and bad in Law. 4. That on the facts and in the circumstances of the case and in law, the Ld. CIT(A) ought to have allowed the claim under Section 80IB (9) of the Act on merits (issue is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has claimed tax holiday for Development for "Lakshmi Development Area and Gauri not well wise. 4.3 THAT condition prescribed under section 80IA(7) of the Act is not satisfied as no separate accounts of the undertaking as maintained and there are no well wise sales or billing in respective Fields/ Development Area without appreciating that appellant has filed separate profitability duly certified by the Auditors in respect of each of the aforesaid Fields ./Development Area. 4.4 THAT the deduction under section 80IB(9) of the Act will not be allowed as the condition of well wise or undertaking wise employment of twenty or more workers in a manufacturing process carried on with the aid of power of satisfied without appreciating that sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en computed on scientific basis and is in accordance with Guidance Note issued by ICAI and Generally Accepted Accounting Principles. 6.2 THAT the provision of Site Restoration is an ascertained liability while computing the Book Profits and Ld. AO has exceeded his jurisdiction in redrafting the Profit and Loss Account of the Appellant to determine the Book Profit. 7. THAT the Ld. CIT(A) ought to have allowed the benefit of set-off of brought forward assessed business loss and unabsorbed depreciation. 2. Brief facts of the case are that the assessment u/s 143(3) of the Income Tax Act 1961(hereinafter referred to as the Act) was finalized vide order dated 30-12-2008. The assessee feeling aggrieved by the assessment order preferred an a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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