THE ASSTT. COMMISSIONER OF INCOME TAX, JAMMU vs. M/S KAISER INDUSTRIES PVT. LTD, SAMBA

ITA 381/ASR/2016Status: DisposedITAT Amritsar20 March 2019AY 2006-0713 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, finding no specific error in it. The CIT(A) had followed a previous Tribunal decision for the same assessee in an earlier assessment year, which allowed the deduction on similar facts.

What were the facts?

The Revenue appealed the CIT(A)'s decision to allow deduction under Section 80IB(4) for the assessee's Samba Unit. The Assessing Officer had denied this deduction, citing Section 80IB(13) read with Section 80IA(10), alleging that the Samba Unit's profits were inflated due to its close connection with another unit.

What were the issues?

Whether the deduction under Section 80IB(4) for the Samba Unit was correctly denied by the AO, and if the CIT(A) was justified in allowing it based on the principle of consistency.

Which sections of the Income-tax Act were involved?

Section 80IB,Section 80IA(10),Section 80IB(13)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR

Before: Sh. N. S. Saini & Sh. N. K. Choudhry

For Appellant: Shri. Vasu Gupta, CA
Hearing: 21.02.2019Pronounced: 22.03.2019

Per N. S. Saini, Accountant Member:

This is an appeal filed by the Revenue against the order of Commissioner of Income Tax (Appeals), Jammu dated 31.03.2016. 2. The sole issue involved in this appeal is that the Commissioner of Income Tax (Appeals) erred in allowing the deduction u/s 80IB(4) of the Income Tax Act, 1961 in respect of Samba Unit as the same was claimed to inflate the profit of eligible unit for the motive of availing deduction u/s 80IB.

3.

The brief facts of the case are that the Assessing Officer observed that the appellant company is doing the business of manufacturing specially agro chemicals. It has two units one at Bahadurgarh & other at Samba. It had filed its retu

The order continues below.

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