9911796707
TMI Blog2015 (10) TMI 1471X X X X Extracts X X X X X X X X Extracts X X X X ..... IB could have been withheld for assessment year 2005–06 onwards. Accordingly, we held that the disallowance of deduction under section 80IB for assessment year 2005–06 to 2007–08 were not correct. Accordingly, we direct the A.O. to allow the deduction under section 80IB for these three years, we do not find any reason to deviate from the same. - Decided in favour of assessee. - ITA no. 226/Nag./2014, ITA no. 227/Nag./2014 - - - Dated:- 21-8-2015 - SHRI MUKUL K. SHRAWAT AND SHRI SHAMIM YAHYA, JJ. For The Revenue : Shri Narendra Kane For The Assessee : Shri C.J. Thakar a/w Shri S.C. Thakar ORDER PER SHAMIM YAHYA, A.M. These appeals filed by the Revenue are directed against the impugned orders of even date 19th Dec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cited supra for the assessment year 2005 06, 2006 07 and 2007 08, has, inter alia, adjudicated the issue by observing as under: 8. After considering the submission and perusing the material on record, we found that the assessee deserves to succeed in all these three appeals in respect to deduction under section 80IB. The copy of the assessment order for assessment year 2003 04 is placed at paper book at pages 23 to 42. At page 9 of the assessment order for the assessment year 2003 04, copy of which is placed at 31 of the paper book, the A.O. has noted in para 7.1 that the assessee company has claimed deduction under section 80IB to tune of ` 6,02,825, ` 5,55,870 and ` 8,71,103 in respect of Unit III, Unit IV and Unit V, respectively ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Next year i.e., in assessment year 2003 04, the sale of production was affected and accordingly deduction under section 80IB was allowed by ascertaining that conditions are satisfied. 9. Now for subsequent year i.e. for assessment year 2005 06 to assessment year 2007 08, which are under consideration here before us, withdrawal of deduction under section 80IB, in our considered view, is not justified. Thereafter, the Tribunal has referred to several case laws and concluded as under: 12. The ratio of these decision are squarely applicable on the facts of the present case as on account of certain deficiencies, the A.O. concluded that the deduction under section 80IB was not allowable for assessment year 2005 06 onwards, where ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
