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TMI Blog2016 (2) TMI 990X X X X Extracts X X X X X X X X Extracts X X X X ..... e difference between the actuals and the projected figures should be absorbed by the Petitioner? Held that:- Referring to the order passed by AAIFR it requires the Income Tax Department to accept or reject the plea for grant of a concession or relief in terms of the Scheme presented before the BIFR. The AAIFR observed that “the Department should have only considered the proposed concession and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted by the Petitioner will be taken. - W.P. (C) 1568/2015 - - - Dated:- 15-2-2016 - S. MURALIDHAR VIBHU BAKHRU JJ. Petitioner Through: Mr. Vivek Sibal, Ms. Pooja M. Saigal and Mr. Jitender Ratta, Advocates. Respondents Through: Mr. D. R. Jain, Senior Standing counsel. O R D E R W.P.(C) 1568/2015 CM No. 2798/2015 (for stay) 1. On 27th November 2014, this Court p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elating to capital gains tax ought to have been construed on the basis of actuals and not projections. The learned counsel for the respondents submits that these proposals are always considered on the basis of projections and if there is any difference between the projections and the actuals to the detriment of the proposer, the same would have been absorbed by the latter. The learned counse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n decision. That order does not by any means suggest that when there are actual figures available at the time of the decision to be taken by the Department, reliance can be placed on the projections of the Petitioner which were submitted at the time of submission of the scheme before the BIFR. In any event, it does not support the plea of the Revenue that the difference between the actuals and th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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