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TMI Blog2016 (8) TMI 1578X X X X Extracts X X X X X X X X Extracts X X X X ..... s. For the Assessee : Shri C.N. Rathi. Order u/s.254(1)of the Income-tax Act,1961(Act) PER Rajendra A.M.- Challenging the orders, dated 12-3-2015 of the CIT(A)-III, Nagpur the Assessing Officers (AOs) have filed the appeals for the above assessment yeas. As the issue involved in these appeals are identical, so, for the sake of convenience, we are adjudicating all the appeals by a single common order. Assessee-company is engaged in the business of manufacturing of all types of detonators, fuse heads, aluminium and copper tubes, filed its return of income on 20- 10-2005, declaring total income at Rs.4.60 crores under the normal provisions of the Act and of Rs.7.36 crores under the MAT provisions. Subsequently, it filed a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... comparing the facts of the cited decision of Reliance Industries Ltd. and the facts of the appellant. This comparison is an important exercise; hence, it is worth to make it a part of our judgment. Hence, the same is reproduced below:- Sr. No. Reliance Industries Limited s case (supra). Appellant s case. 1 The scheme framed by the Government of Maharashtra in 1979. Government of Maharashtra in 1993 and it is revision of the earlier schemes including the 1979 scheme. 2 Objection of the Scheme: The object of the scheme was industrial development of backward district as well as genraation of e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Appellant is entitled to collect the sales tax in the nature of subsidy and retain the same without making payment for the same. 7 Time of receipt of subsidy: The assessee was entitled to receive subsidy after the manufacture and sale of product i.e. sales tax could not be collected before the month of production and its sale. The assessee was entitled to receive subsidy after the manufacture and sale of product i.e. sales tax could not be collected before the month of production and its sale. Therefore, from the facts of the case, it is evident that the assessee haqd set up a unit at Sawanga District Nagpur, a notified backward area. An investment in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax incentives as exempt and not to be taken into account in computing the taxable income. The view taken by the learned CIT(A) is accordingly confirmed. The ground of appeal raised by the Revenue is dismissed. 7. In the result, the appeal of the Revenue is dismissed. Respectfully following the above order of the Tribunal we decide the effective ground of appeal against the AO. As the facts of the cases for the above mentioned four assessments years are identical to the facts of AY 2005-06, so following our order for that year we decide the effective grounds of appeal against the AO. for those years. As a result, appeals filed by the AO for the above mentioned AYs stand dismissed. Order pronounced in the open court on 30th, A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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