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TMI Blog2022 (6) TMI 262X X X X Extracts X X X X X X X X Extracts X X X X ..... hrashed the facts in the light of the law applicable thereto. After perusing the agreement with Maharashtra Industrial Development Corporation (MIDC), the Ld. CIT(A) observed that the same is a document between Hydroair Tectonics and Patalganga and Rasayani Industries Association (PRIA) with MIDC. There is also one memorandum of understanding between Hydroair and assessee with MIDC as facilitator for setting up a joint venture company namely Pria Ganga Common Effluent Treatment Plant Ltd. When the assessee has failed to fulfill the basic and primary requirements of section 80IA(4) of the Act for its claim under section 80IA of the Act, present year being the first year of claiming a deduction as its earlier claims have already been decli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stated facts necessary for adjudication of the controversy at hand are : assessee company is into the business of operating the infrastructure facility of waste water treatment. During the scrutiny proceedings Assessing Officer (AO) noticed that the assessee claimed deduction to the tune of Rs.2,78,29,293/- under section 80IA of the Income Tax Act, 1961 (for short the Act ). Declining the contentions raised by the assessee the AO proceeded to disallow the deduction claimed by the assessee under section 80IA(3) of the Act and thereby framed the assessment at the total income of Rs.37807114/- under section 143(3) of the Act. 3. Assessee carried the matter before the Ld. CIT(A) by way of filing appeal who has partly allowed the same. Feel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... memorandum of understanding between Hydroair and assessee with MIDC as facilitator for setting up a joint venture company namely Pria Ganga Common Effluent Treatment Plant Ltd. When the assessee has failed to fulfill the basic and primary requirements of section 80IA(4) of the Act for its claim under section 80IA of the Act, present year being the first year of claiming a deduction as its earlier claims have already been declined, we find no illegality or perversity in the impugned order passed by the Ld. CIT(A). No new facts and evidences have been brought on record by the assessee who has also not preferred to put an appearance after filing present appeal way back in May 2018. Consequently, impugned order passed by the Ld. CIT(A) is hereb ..... X X X X Extracts X X X X X X X X Extracts X X X X
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