2017 (2) TMI 1273

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..... essee to seek anything beyond 1st April, 2001 was not there and his rights stood extinguished or exhausted by way of deemed in fiction, we are unable to agree with that because the amendment, which came thereafter, allowed ten years relief. The intent of the legislature while making these amendments was certainly not to curtail relief to an assessee, who had not availed double benefit. Thus the matter requires reconsideration by the Tribunal it may clarify the facts of the case fully and give to both parties an opportunity of hearing and pass fresh orders in accordance with law
Bharati Sapru And Vinod Kumar Misra, JJ. For the Appellant : Sujeet Kumar, O. S. Bajpai, V. N. Jha For the Respondent : Shubham Agrawal, C.S.C. ORDER Heard Sr .....

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..... claimed any exemptions for those years and they have not availed any double benefit under the various provisions of law and the schemes, which were available. Learned Counsel for the assessee relies on a decision of Delhi High Court in the case of Commissioner of Income-Tax v. TEI TECHNOLOGIES PVT. LTD. reported in (2014) 361 ITR 36 (Delhi) wherein the Delhi High Court while considering the case of a similar nature found it fit to allow deductions to the assessee under Section 10A (6) of the Act. Learned Counsel for the respondent has relied on a decision of Hon'ble Apex Court in the case of C.I.T. & Anr. v. M/s Yokogawa India Ltd. in Civil Appeal No.8498 of 2013 dated 16.12.2016 and in paragraph no.13 of the said judgement the Apex Co .....

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..... with that because the amendment, which came thereafter, allowed ten years relief. The intent of the legislature while making these amendments was certainly not to curtail relief to an assessee, who had not availed double benefit. In the light of the aforesaid observations and decisions placed before us the matter requires reconsideration by the Tribunal it may clarify the facts of the case fully and give to both parties an opportunity of hearing and pass fresh orders in accordance with law. It may do so within a period of six months from the date a certified copy of this order is being placed before it. We decide the issue on the first question. The second issue already formulated may be considered at the later stage. The appeal is dispo .....

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