2012 (11) TMI 1181

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..... e facts and in the circumstances of the case, the ld. Commissioner of Income-tax (A)-XV, Ahmedabad ought to have upheld the order of the Assessing Officer. 3. It is, therefore, prayed that the order of the ld. Commissioner of Income-tax(A)-XV, Ahmedabad may be set-aside and that of the Assessing Officer be restored. 2. The facts in brief are that the case of the assessee for assessment year 2007-08 was selected for scrutiny assessment and the assessment u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the Act) was framed whereby the claim of the assessee u/s 80IB was rejected and the same was added back to the income of the assessee. Against this order, the assessee preferred an appeal before the CIT(A) who aft .....

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..... k power. Separate figures for production of each such item is available separate identifiable expenses are provided there against. Mere technicalities like certain information in audit report or filing audit report after filing return of income, but before completion of assessment proceedings are not to come in a way of claiming deduction u/s 80IB of the Act. Since no error in the order of Ld, CIT(A) is pointed out, the matter need not be restored back as it will amount to giving a second innings to the AO which is not permissible. Since no infirmity in the order of Ld. CIT(A) is found, we uphold the order of Ld. CIT(A) in this regard. We have heard the rival submissions and perused the orders of the authorities below and the materia .....

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..... certain common expenses were debited in Dairy Business which were also attributable for Cattle Feed Business also. From this the Learned Assessing Officer concluded that an apportionment of such joint or common expenses the loss of assessee in the Cattle Feed Business will increase and the profit in Dairy Business will be reduced. In our considered opinion, the above conclusion of the Learned Assessing Officer is clearly unsustainable. In our view, when a part of the expenses which were debited by the assessee in Dairy Business is apportioned to the Cattle Feed Business, then the profit of the Dairy Business will increase and the Learned Assessing Officer wrongly held that the same will be reduced. As the profit of the Dairy business will .....

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