M/S OM PLASTICS,BADDI vs. DCIT, CIRCLE, PARWANOO

ITA 191/CHANDI/2018Status: DisposedITAT Chandigarh25 May 2018AY 2014-154 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal, citing bonafide reasons beyond the assessee's control. The matter was then remanded to the AO to grant relief in accordance with the jurisdictional High Court's ruling on substantial expansion benefits under Section 80IC.

What were the facts?

The assessee's appeal was delayed by 70 days due to a communication lapse regarding the receipt of the CIT(A) order. The core issue is the disallowance of substantial expansion benefits under Section 80IC, where the CIT(A) limited the deduction to 25%.

What were the issues?

Whether the benefit of substantial expansion under Section 80IC is allowable for the assessment year in question, and the interpretation of the eligibility criteria for such benefits.

Which sections of the Income-tax Act were involved?

Section 80IC

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Income Tax Appellate Tribunal, DIVISION BENCH ‘SMD’, CHANDIGARH

Before: MS. DIVA SINGH & MS. ANNAPURNA GUPTA

For Appellant: Shri Manoj Kumar, CA
For Respondent: Shri Manjit Singh, Sr.DR
Hearing: 11.05.2018Pronounced: 25.05

PER DIVA SINGH The present appeal has been filed by the assessee assailing the correctness of the order dated 19.09.2017 of CIT(A) Shimla pertaining to 2014-15 assessment year on the following ground :

1.

The Id. CIT(A) is wrong in disallowing the benefit of substantial expansion u/s 80IC(2) and confirming the deduction u/s 80IC only to the extent of 25% as against 100% by holding that benefit of substantial expansion is allowable only to the undertaking which were existing as on 07.01.2003. 2. However, before we address the issue raised by the assessee in the present appeal, it is pertinent to address the delay of 70 days in filing of the present appeal pointed out by the Registry.

The order continues below.

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