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TMI Blog2019 (5) TMI 1390X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri Bhavnesh Saini, Judicial Member And Shri N.K. Billaiya, Accountant Member For the Assessee : S/Sh. Ved Jain, Sr. Adv., Rishabh Jain, CA And Umang Luthra, CA For the Revenue : Ms. Ashima Neb, Sr. DR ORDER PER SHRI N.K. BILLAIYA, A.M. This appeal by the assessee is preferred against the order of the CIT(A)-29, New Delhi dated 31.08.2016 pertaining to AY 2007- 08. 2. The solitary grievance of the assessee is that the CIT(A) erred in confirming the action of the AO in excluding income from sale of V-SAT equipments amounting to ₹ 3,62,19,389/- for the purpose of deduction u/s 80IA of the Act. 3. At the very outse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me not derived from specified services, after noticing that the cost of material was ₹ 1,61,85,795/-. The CIT(A) upheld the said addition holding that this was income derived from trading in goods. The Tribunal has deleted the said addition, inter alia, holding: - 11. Let us have a look on the nature of equipments. We have perused pages number 29-40 of the paper book. On page 29-31 the copy of the import license for import of C bank redundant 1:1 Up Converter and Down Converter have been placed on record. These are the technical device. Similarly, on page 32-33 are the import license on page 34 is the description of the items which are to be imported. At page 34 of the description of the items is Codan 40 Wku Bank BU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmunication and was exempt. Sale of equipment etc., had close and direct nexus with profit and gains of the stipulated industrial undertaking. 12. The legal contention of assessee is substantially correct. However, what was relevant and required examination was the contracts under which the sales were made. Sale of TV Camera, Air Conditioner, generator sets per se or on standalone basis would not qualify for deduction 80IA read with sub-section (4) clause (ii). On the other hand, in case the assessee has been awarded a contract for providing telecommunication service, network of trunking and broad bank/internet services and while for executing the said contract, generator sets, air conditioner etc. were sold as a part of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and perused the records and have carefully gone through the order of the Hon ble High Court in assessee s own case for AY 2005-06 which is the relevant assessment year before us. In the interest of justice, we remit this issue back to the file of AO to be decided as directed by the Hon ble High Court in para 12 (supra), after giving opportunity to the assessee. 7. Respectfully following the directions of the Hon ble High Court of Delhi viz-a-viz the directions of the Coordinate Bench, we restored the issue to the files of the AO. The AO is directed to decide this issue afresh in the light of the directions given by the Hon ble High Court of Delhi in AY 2005-06 after giving a reasonable and sufficient opportunity of being ..... X X X X Extracts X X X X X X X X Extracts X X X X
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