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TMI Blog2020 (1) TMI 1522X X X X Extracts X X X X X X X X Extracts X X X X ..... d in this matter are directly and substantially covered in assessee s own case in earlier years [ 2019 (2) TMI 1191 - ITAT DELHI ] and while respectfully following the same we hold that the assessee is entitled to deduction under section 80 IC of the Act - Decided in favour of assessee. - ITA No. 4546/Del/2017 - - - Dated:- 6-1-2020 - SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER AND SHRI ANADEE N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an income of ₹ 2,84,91,000/-and claimed deduction under section 80 IC of the Act to the tune of ₹ 1,19,73,540/-. Learned Assessing Officer, however, held that the products manufactured by the assessee fall under schedule 13 (at serial No. 19) which is a negative list and, therefore, profitderived from the manufacture of these products is not eligible for deduction under section 80 IC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal dealt with this issue in assessee s own case in ITA No. 5994/Del/2014 and 6550/Del/2015 and by order dated 18/02/2019 Tribunal returned a finding that inasmuch as the industrial unit was set up on 26/10/2006, and the initial assessment year in which deduction under section 80 IC of the Act was claim, was assessment year 2007-08 from each year onwards such a claim was allowed to the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se in earlier years and while respectfully following the same we hold that the assessee is entitled to deduction under section 80 IC of the Act and theaddition to the tune of ₹ 1,19,73,540/-by disallowance of the same, is directed to be deleted. Grounds of appeal are answered accordingly. 7. In the result, appeal of the assessee is allowed. Order pronounced in the Open Court on 6th Jan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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