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TMI Blog2018 (7) TMI 2343X X X X Extracts X X X X X X X X Extracts X X X X ..... said conclusion, the Tribunal has placed reliance on the decision of Creative Infocity Ltd. [ 2012 (4) TMI 117 - GUJARAT HIGH COURT] In view of the aforesaid decision of the Tribunal in assessee s own case, which decision was also followed by the Tribunal in assessee s own case for the AYs 2009-10 to 2011-12, we are of the view that there is no merit in this appeal by the revenue. Consequently, the appeal by the revenue is dismissed. - Shri N.V. Vasudevan, Judicial Member And Shri A.K. Garodia, Accountant Member For the Appellant : Shri M. Rajasekhar, Addl. CIT (DR) (ITAT), Bengaluru. For the Respondent : Smt. Prathiba, Advocate. ORDER PER N.V. VASUDEVAN, JUDICIAL MEMBER This is an appeal by the revenue against the order dated 6.7.2017 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2013. The Tribunal in the aforesaid decision held as follows:- 5.3.1 We have heard both parties and carefully perused and considered the material on record and the judicial decisions cited. It is not in dispute that the assessee, in the case. on hand, has set up a STP, (viz. industrial park) for which it has obtained the approval from the Ministry of Commerce and Industry, Govt. of India vide order dt. 13.4.2006. It is seen that in order of assessment, the Assessing Officer had raised an issue regarding the non-compliance to the condition stipulated in the approval accorded regarding the number of units to be maintained in the STP. However, we find that in the remand report submitted to the learned CIT(Appeals), the Assessing Officer has fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2005 and that the assessee satisfies the conditions stipulated for availing the deduction under section 80 IA(4)(iii) of the Act. In the factual matrix of the case on hand, we are of the view that there is no reason to deny the assessee the deduction claimed under section 80 IA(4)(iii) of the Act merely because the CBDT Notification was issued much later on 21.2.2012, when the said Notification is issued in view of the approval granted by the Ministry of Commerce and Industry, Govt. of-India on 13.4.2006. One of the terms and conditions specified in the Annexure to the CBDT Notification dt. 21.2.2012 at Sl. No. 5 states that - 5. In case the Industrial Park did not commence by 31.3.2006, fresh approval will be required under the Industrial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the case of Creative Infocity Ltd. (supra), we find substantial merit in the contention of the assessee that the Notification to be issued by CBDT is only a formality once the approval is granted by the Ministry of Commerce Industry, Govt. of India, and, therefore, hold that once the CBDT Notification is issued, the assessee is entitled to the benefits under section 80 IA (4)(iii) of the Act from the date of approval by Ministry of Commerce and Industry, Govt. of India, subject to the compliance of the terms and conditions specified therein. There is nothing to suggest that the benefits of the deduction under section 80 IA (4)(iii) of the Act are available only from the date of Notification by the CBDT. We, therefore, hold that the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X
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