9911796707
TMI Blog2021 (9) TMI 591X X X X Extracts X X X X X X X X Extracts X X X X ..... HIGH COURT] . We could not point out any error or omission in the findings of the ld. CIT(A) which is supported by the decision of the Hon'ble Jurisdictional High Court of Delhi [supra]. We, therefore, do not find any reason to interfere with the findings of the ld. CIT(A). - Decided against revenue. - ITA No. 1418/DEL/2018 - - - Dated:- 6-9-2021 - Shri N.K. Billaiya, Accountant Member, And Ms. Suchitra Kamble, Judicial Member For the Assessee : Shri. M. P. Rastogi, Adv., Shri Rajiv Kumar, C.A. For the Revenue : Ms. Nidhi Srivastava, CIT-DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER, This appeal by the Revenue is preferred against the order of the Commissioner of Income Tax [Appeals] - 29, New ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f film used in packing industry, printed article in pouch form and zipper diaphragm. The assessee company has four manufacturing units at Baddi, Jammy and two units at Haridwar. 6. During the course of scrutiny assessment proceedings and on perusal of profit and loss account for the year under consideration, the Assessing Officer noticed that the assessee has earned income from scrap sales amounting to ₹ 5.98 crores. The assessee was asked to submit details of scrap sales which were duly submitted by the assessee. 7. It was contended that the scrap sale price comprises of sale of scrap generated out of manufacturing of finished goods as well as other scraps which have been received with raw material and generated out of repa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee was involved in manufacturing of forging which involved purchase of steel, cutting the same, making of forging ports, giving heal treatment and' machining. Each of these processes could be done in separate industrial undertaking, whereas assessee had undertaken all these processes in its units. The assessee was doing these works on Job basis for other undertakings, by getting the raw material from them. When the assessee was entitled to claim exemption in respect of income derived from such processes domq for itself, it is not understandable as to why he would not be entitled to so merely because the row material component was being supplied by other customers and for whom the assessee was doing the Job; the he a treatment is one ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eto would also be within the ambit of gains derived from industrial undertaking for the purpose of computing deducting under Section 80IB. 11. Drawing support from the aforementioned judgment, the ld. CIT(A) allowed the claim of the assessee. 12. Before us, though the ld. DR strongly supported the findings of the Assessing Officer, but could not point out any error or omission in the findings of the ld. CIT(A) which is supported by the decision of the Hon'ble Jurisdictional High Court of Delhi [supra]. We, therefore, do not find any reason to interfere with the findings of the ld. CIT(A). 13. In the result, the appeal of the Revenue in ITA No. 1418/DEL/2018 is dismissed. The order is pronounced in the open court on ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
