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TMI Blog2014 (3) TMI 98X X X X Extracts X X X X X X X X Extracts X X X X ..... re with the order passed by the CIT(A) in holding that assessee-company fulfils the condition of SSI during the assessment year and are entitled to deduction u/s 80IB of the Act - Decided against Revenue. - ITA No. 1769/Ahd/2011 - - - Dated:- 28-2-2013 - Shri D. K. Tyagi And Shri Anil Chaturvedi,JJ. For the Petitioner : Sri Pradip Kr. Majumdar, Sr. D.R. For the Respondent : Sri Gaurav Mehta, A.R. ORDER Per : D. K. Tyagi, Judicial Member:- This is the Revenue s appeal against the order of Ld. CIT(A) Gandhinagar dated 27/04/2011. 2. The only effective ground reads as under:- (1) The learned CIT(A) has erred in law and on facts in deleting the addition of Rs. 92,20,602/-, made on account of disallowance of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... does not exceed Rs. 300 lacs, notwithstanding the revised investment limit of Rs. 100 lacs notified on 24th December 1999. (iii). That the conditions stipulated have been met is clear from the fact that the unit commenced the production on 05/12/2000. Further, in the application form where as although assessee itself has shown total Plant and Machinery at Rs, 1,05,76(000) i.e. over Rs, 1 crore still it was granted permanent small scale registration vide order dated 12/04/2001. This was clearly done as the enhanced limit of Rs. 3 Crore was applicable to it. The registration continued in subsequent years. (iv). As per Notification of Central Govt. - SO 857(E), dated 10-12- 1999, the value of plant and machineries is to be computed after ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the limit of Rs, 3 crores. Hon ble ITAT Jaipur Bench has considered this enhanced limit of Rs, 3 crores in the case of ACIT v/s Shiv Agrevo Ltd. (2009) 123 TTJ 416. Therefore the appellant company fulfills the conditions of SSI during the asst. year 2006-07. It is therefore entitled to deduction u/s 80 IB of the I.T. Act. The Assessing Officer is directed to give 8O-IB of Rs, 92,20,602/- as allowed in the original assessment proceedings. 4. Since, there is no dispute about the fact that value of plant and machinery as on 31st March, 2006 is of Rs. 1,28,49,101/- which is within the limits i.e. does not exceed Rs. 3 crore as per provisions of 11B of Industries (Development and Regulation) Act, 1951 applicable to the assessee being as small ..... X X X X Extracts X X X X X X X X Extracts X X X X
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