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TMI Blog2023 (2) TMI 1020X X X X Extracts X X X X X X X X Extracts X X X X ..... sioner of Income-tax (Appeals), the Commissioner of Income-tax (Appeals) had dismissed the appeal for the assessment year 2007-08 on a different ground. The Income-tax Appellate Tribunal has recorded cogent reasons while allowing the appeal for the assessment year 2007-08.The questions of law are answered in favour of the assessee. - Income Tax Appeal No. 855 of 2018. - - - Dated:- 17-10-2022 - P. S. Dinesh Kumar And T. G. Shivashankare Gowda JJ. For the Appellants : E. I. Sanmathi , Standing Counsel For the Respondent : Balram R. Rao , Advocate JUDGMENT P. S. DINESH KUMAR J. 1. This appeal by the Revenue, is directed against order dated July 6, 2018 in I. T. A. No. 2134/Bang/2017 passed by the Income-tax Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity ? 3. Whether on the facts and circumstances of the case the Tribunal is correct in law in allowing the appeal of the assessee even though the assessee has violated the conditions laid down in Industrial Park Scheme, 2002, of not letting more than 50 per cent. of the allocable area to a single tax entity (in this case more than 90 per cent. is occu pied by IBM Daksh Business Process Services Pvt. Ltd.) and further the assessee was not able to submit the approval letter issued by the Central Board of Direct Taxes, which is mandatory as per rule 18C(4) of the Income-tax Rules ? 2. The brief facts of the case are, the assessee has constructed and set up a technology park in the name and style of M/s. Prasad Technology Park Pvt. Lt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment year 2008-09 in the assessee's own case. During that assessment year, the Income-tax Appellate Tribunal had called for a remand report by the Commissioner of Income-tax (Appeals) and a finding was recorded that the assessee had not leased out more than 50 per cent. of the total area in favour of any one of the lessees. Based on that finding, the Income-tax Appellate Tribunal has allowed the assessee's appeal. Following the said order, the Income-tax Appellate Tribunal has dismissed the Revenue's appeal in this case. 6. Shri Sanmathi's contention that the assessee had leased out more than 50 per cent. of the total allocable area in favour of one of the lessees (M/s. IBM Daksh) has been found to be incorrect based ..... X X X X Extracts X X X X X X X X Extracts X X X X
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