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TMI Blog2018 (10) TMI 1442X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment year 2003-04 and started claiming the deduction u/s 80IA from the assessment year 2004-05. As per section 80IA, the assessee is entitled for deduction u/s 80IA for 10 consecutive years which expires in 2014-15, whereas the assessee claimed the deduction in 2015-16 also. Therefore, the AO is directed to verify and allow deduction u/s 80IA correctly for the period for which the assessee is entitled. With the above observation we dismiss the appeals of the revenue. - I.T.A.No.293-296 /Viz/2018, Cross Objection Nos.80-84/Viz/2018 - - - Dated:- 26-10-2018 - Shri V. Durga Rao, Judicial Member And Shri D.S. Sunder Singh, Accountant Member For the Revenue : Sri Deba Kumar Sonowal, DR For the Assessee : Sri G.V.N.Hari, A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rice mill and put into operation during the assessment year 2004-05 and since then the company has produced the power and steam and the same is being utilized internally to run the rice mill. The assessee has allocated 10% of the cost of total husk consumed for power plant and the remaining 90% of the husk costs being allocated to the generation of steam by rice mill in its boiling mill unit. Accordingly, the assessee has computed the net profits and claimed the deduction u/s 80IA. The AO not being satisfied with the allocation made by the assessee after going through the assessee s record comparable cases, estimated the cost of consumption @ 55% of the total husk to the power generation plant and accordingly recomputed the deduction u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cordingly, this ground of appeal is treated as Allowed. 5. Aggrieved by the order of the Ld.CIT(A), the revenue is in appeal before this Tribunal. During the appeal hearing, the Ld.DR supported the orders of the AO and the Ld.AR relied on the orders of this Tribunal in the assessee s own case for the assessment year 2008-09 and 2009-10 in I.T.A.Nos.48, 63, 325 342/Vizag/2012 dated 28.04.2014 and the Ld.CIT(A). The Hon ble ITAT in the assessee s own case supra after considering the issue in detail allowed the appeal of the assessee holding that allocation of husk at 10% is reasonable. For ready reference, we extract para No.10 of the order of the Tribunal which reads as under : 16. On a careful examination, we are inclined to acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s per the information available on record, the assessee had installed the power plant in the assessment year 2003-04 and started claiming the deduction u/s 80IA from the assessment year 2004-05. As per section 80IA, the assessee is entitled for deduction u/s 80IA for 10 consecutive years which expires in 2014-15, whereas the assessee claimed the deduction in 2015-16 also. Therefore, the AO is directed to verify and allow deduction u/s 80IA correctly for the period for which the assessee is entitled. With the above observation we dismiss the appeals of the revenue. 7. The assessee filed cross objections in support of the order of the Ld.CIT(A). Since the appeal of the revenue is dismissed, the cross objections filed by the assessee are ..... X X X X Extracts X X X X X X X X Extracts X X X X
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