9911796707
TMI Blog2013 (2) TMI 622X X X X Extracts X X X X X X X X Extracts X X X X ..... by using word 'or' as such both the facilities of storage and transportation at the same time was not necessary for falling within the definition of "cold chain facility" Business of the assessee is covered within the definition of "cold chain facility" under Section 80-IB (14) (aa) of the Act and the assessee was entitled for exemption under Section 80-IB of the Act. - Income Tax Appeal No. - 322 of 2010 - - - Dated:- 2-1-2013 - R. K. Agrawal And Ram Surat Ram (Maurya),JJ. Petitioner Counsel :- Shambhu Chopra Respondent Counsel :- Rakesh Ranjan Agrawal Suyash Agrawal ORDER 1. Heard Sri Shambhu Chopra, Senior Standing Counsel for the appellants and Sri Rakesh Ranjan Agrawal, the counsel for the respondent. 2. This ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orage. The assessee, in the capacity of the company, filed Income Tax Return on 31.10.2004 showing income of Rs. 5,09,018/-. The case was selected for scrutiny. Notice under Section 143 (2) of the Act dated 05.09.2005 was served upon the Director of the assessee on 08.09.2005. Notice under Section 142 (1) of the Act along with questionnaire was served on 17.10.2006. In compliance of the aforesaid notices, the assessee filed his reply and produced relevant documents. The assessee claimed deduction of Rs.62,31,436/- on the income of the business under Section 80-IB of the Act. 4. The Assessing Officer by the order dated 04.12.2006 held that merely providing refrigerated storage facilities for potatoes cannot be regarded as an undertaking ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tifically controlled conditions including refrigeration and other facilities necessary for the preservation of such produce." 7. Bare perusal of the aforesaid definition it is clear that "cold chain facility" means a chain of facilities for storage of agricultural produce under scientifically controlled conditions including refrigeration and other facilities necessary for the preservation of such produce. The words storage and transportation have been separated by using word 'or' as such both the facilities of storage and transportation at the same time was not necessary for falling within the definition of "cold chain facility". Division Bench of this Court in Income Tax Appeal No. 385 of 2008 in the matter of the assessee for the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
