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TMI Blog2020 (4) TMI 648X X X X Extracts X X X X X X X X Extracts X X X X ..... order accepting the contentions of the assessee, once the same is in accordance with law. AO is only required to write decision on contentious issues placed before him and not to write decision on the issues on which sufficient enquiry was made and the AO and after enquiry AO is satisfied that the issue is covered in favor of the assessee in accordance with the provisions of law. No error in the order passed by the AO once sufficient enquiry were made to the true character of the subsidy received by the assessee - issue of subsidy is squarely covered by the decision of the Hon‟ble Supreme Court in the case of Chaphalkar Brothers [ 2017 (12) TMI 816 - SUPREME COURT] . In view of the matter, we fail to understand how the order pas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 446 relied). 3. The learned Pr. CIT-1, Nashik erred in passing the order u/s.263 without giving findings as to the error in the assessment order dated 26.11 2015 a condition precedent for revision u/s.263. Therefore, it is prayed to hold that the order passed u/s.263 is null and void. 4. Without properly appreciating the claim of appellant that the Octroi incentive, received under the package scheme of Incentives of the Government of Maharashtra, amounted to Capital Receipt, in view of the Supreme Court decision in the case of Chaphalkar Brothers (300 ITR 0113), Delhi ITAT decision in the case of L.G Electronics Pvt. Ltd. (187 TTJ 0470) the Pune ITAT decision in the case of Innoventive Industries Ltd in ITA No.601/PN/2012, the l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... apital Subsidy from DIC . An amount of ₹ 1,53,27,300/- is received as incentive by way of refund of taxes paid to local authorities under Package Scheme of Incentives (PSI) 2007 on the basis of Eligibility Certificate issued by the Directorate of Industries, Government of Maharashtra. The company has been granted this Eligibility Certificate to encourage the dispersal of industries to the less developed area of the state and to ensure sustained industrial growth through innovative initiatives of development of key potential sectors and further improving condusive industrial climate in the state of Maharashtra for providing the global competitive age to the states industry. The grant of fiscal incentives are to achieve higher and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar in this regard . For that purpose he has drawn our attention to the order of the Ld. Pr. Commissioner of Income Tax wherein the Ld. Pr. Commissioner of Income Tax at Para 6 of his order had admitted that the case of the assessee was under assessment for limited scrutiny only for the purpose of verification of reason i.e. Delayed payment of tax and return filed late . 3. Per contra, the Ld. DR had submitted firstly on the issue of limited scrutiny that once the Assessing Officer had issued questionnaire beyond the limited scrutiny then it is presumed that the Assessing Officer had expanded scope in accordance with Board Circular for converting limited scrutiny into full-fledged scrutiny. As no contrary document was placed before the B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer is not required to write detailed order accepting the contentions of the assessee, once the same is in accordance with law. In our view, the Assessing Officer is only required to write decision on contentious issues placed before him and not to write decision on the issues on which sufficient enquiry was made and the Assessing Officer and after enquiry AO is satisfied that the issue is covered in favor of the assessee in accordance with the provisions of law. 4.2 Having held so, we do not find any error in the order passed by the Assessing Officer once sufficient enquiry were made by the Assessing Officer to the true character of the subsidy received by the assessee. Further we also find that the issue of subsidy is squarely ..... X X X X Extracts X X X X X X X X Extracts X X X X
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