M/S HILLTOP BUILDERS PVT. LTD.,NAINITAL vs. ACIT, NAINITAL

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ITA 5609/DEL/2013Status: DisposedITAT Delhi28 November 2016AY 2010-112 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal set aside the orders of the lower authorities and restored the matter to the Assessing Officer. The Assessing Officer was directed to re-examine the issue in light of a jurisdictional High Court judgment.

What were the facts?

The assessee claimed a deduction under Section 80-IC of the Income-tax Act, which was rejected by the lower authorities. The assessee's appeal was filed for the assessment year 2010-11.

What were the issues?

The primary issue was the allowability of the deduction claimed by the assessee under Section 80-IC of the Income-tax Act. The Tribunal considered a similar matter decided by the jurisdictional High Court.

Which sections of the Income-tax Act were involved?

Section 80-IC

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, IN THE INCOME TAX APPELLATE TRIBUNAL

Before: SHRI G.D. AGRAWALG.D. AGRAWAL & AND BEFORE SHRI G.D. AGRAWALG.D. AGRAWAL & AND SHRI CHANDRA MOHAN GARG SHRI CHANDRA MOHAN GARGSHRI CHANDRA MOHAN GARG SHRI CHANDRA MOHAN GARG

For Appellant: Dr. Rakesh Gupta and Shri Somil Agrawal, Advocates
For Respondent: Shri N.K. Bansal, Senior DR
Hearing: 17.11.2016Pronounced: 28.11.2016

PER G.D. AGRAWAL, VP PER G.D. AGRAWAL, VP :- PER G.D. AGRAWAL, VP PER G.D. AGRAWAL, VP This appeal by the assessee for the assessment year 2010-11 is directed against the order of learned CIT(A)-II, Dehradun dated 25th July, 2013.

2.

The only ground raised by the assessee in this appeal is the allowability of claim of deduction under Section 80-IC of the Income-tax Act, 1961 amounting to `54,33,603/-, which has been rejected by the authorities below.

3.

At the time of hearing before us, it was pointed out by the learned counsel that Hon'ble Jurisdictional High Court has considered similar matter in judgment dated 16th June, 2016 in of 2012 and others in the case of CIT, Dehradun Vs. M/s Aanchal Hotels Pvt.Ltd.

1.

2 ITA-5609/Del/2013 and has set aside the matter to the file of the Assessing Officer for re- examination in the light of guidelines given by their Lordships.

4.

In view of the above, we deem it proper to set aside the orders of authorities below and restore the matter to the file of the Assessing Officer and direct him to re-examine the issue in the light of judgment of Hon'ble Jurisdictional High Court in the case of M/s Aanchal Hotels Pvt.Ltd. (supra). Needless to mention that he will allow adequate opportunity of being heard to the assessee.

5.

In the result, the appeal of the assessee is deemed to be allowed for statistical purposes. Decision pronounced in the open Court on 28.11.2016.

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