M/S. THDC INDIA LTD.,UTTRAKHAND vs. ACIT, HARIDWAR

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ITA 1559/DEL/2015Status: DisposedITAT Delhi26 December 2017AY 2010-113 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that a coordinate bench had previously decided similar issues for earlier assessment years in the assessee's own case. Following that precedent, the Tribunal found no merit in the current appeal.

What were the facts?

The assessee challenged the denial of deductions under Section 80IA for interest income, machine hire charges, rent receipts, and sundry receipts. The Assessing Officer (AO) and Commissioner of Income Tax (Appeals) had sustained these additions.

What were the issues?

Whether interest income, machine hire charges, rent receipts, and sundry receipts are eligible for deduction under Section 80IA. Whether the assessee's appeal is covered by previous decisions of the Tribunal on similar facts.

Which sections of the Income-tax Act were involved?

Section 80IA

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: ‘H’ NEW DELHI

Before: SHRI G.D. AGRAWAL, HON’BLE & SHRI K.N. CHARY

Hearing: 26.12.2017Pronounced: 26.12.2017

ORDER PER K. NARSIMHA CHARY, J.M.

Assessee preferred this appeal challenging the order dated 18.12.2014 passed by the Ld. Commissioner of Income Tax (Appeals)-Dehradun (for short called as the “Ld. CIT(A)”), while sustaining the additions made by the AO while denying the deductions u/s 801A of the Income Tax Act, 1961 (for short called as the “Act”), ie., in respect of the interest from employees/other interest income, machine hire charges, rent receipts and sundry receipts.

2.

At the outset, Ld. AR has fairly brought to our notice that in assessee’s own case in respect of assessment years 2008-09 & 2009-10 a coordinate bench of this Tribunal dealt with the similar

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