2011 (9) TMI 1188

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..... in appeal against the judgment of the Tribunal dated 18.9.2009 raising following questions for our consideration : A Whether on the facts and circumstances of the case and in law, is correct in deleting the addition of ₹ 46,05,565/- on account of disallowance of claim of deduction u/s.80IB of the I.T. Act, without appreciating the fact that the activity carried on by the ass .....

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..... ed to deductions. This was done on two grounds. Firstly, the Tribunal was of the opinion that a new product had come into existence, a fertilizer named as NPK mix containing various substances. The Tribunal in this regard relied on a decision of the Apex Court in the case of CIT v. N.C.Budharaja Co., 204 ITR 412. The second ground on which the Tribunal upheld the claim of the assessee is .....

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