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Income Tax Appellate Tribunal, “RAJKOT” BENCH, RAJKOT
Before: SMT.ANNAPURNA GUPTA&
O R D E R
PER Ms. MADHUMITA ROY - JM:
The instant appeal at the instance of the Revenue is directed against the order dated 19.01.2018 passed by the passed by the Commissioner of Income Tax (Appeals) – 11, Ahmedabad (the CIT(A)), arising out of the assessment order dated 16.03.2015 passed by the Learned DCIT, Central Circle-2, Rajkot under section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred as to ‘the Act’) for Assessment Year 2009-10.
ITO vs. Shree Jivraj Township - 2- 2. The matter relates to the deduction under Section 80IB(10) of the Act of Rs.3,49,29,737/- profit earned by the assessee from the construction of project.
At the time of hearing of the instant appeal Ld. Counsel appearing for the assessee submitted before us that the issue is squarely covered in assessee’s own matter for Assessment Year 2011-12 by the judgment dated 05.12.2016 passed by the Co-ordinate Bench of the Ld. Tribunal copy whereof has also been handed over to us in ITA No. 209/Rjt/2015.
The Ld. DR, however, failed to controvert the same.
We have heard the Ld. Counsel appearing for the respective parties, we have also perused the relevant materials available on record and also carefully considered the judgment passed by the Co-ordinate Bench in assessee’s own case in appeal preferred by Revenue in for A.Y. 2011- 12. The identical issue has been considered by the Co-ordinate Bench in the said judgment, the relevant observation whereof is as follows:-
11. We have given a thoughtful consideration to the underlying facts in the issues before us. We find force in the contentions of the ld. counsel. The facts of the case in hand are similar to the facts considered by the Hon'ble Jurisdictional High Court (supra). As no distinguishing facts have been brought on record by the Id. D.R. nor any distinguishing decision has been cited by the Id. D.R, we have already extracted the relevant part of the Hon'ble High Court's decision which has been followed- By the First Appellate Authority. Therefore, we do not find any error or infirmity in the findings of the ld. CIT(A), we decline to interfere.
Respectfully, following the same, we find no infirmity in the order passed by the Ld. CIT(A) in deleting such addition made by the Ld. AO following the decision taken by his predecessor in the earlier year in allowing ITO vs. Shree Jivraj Township - 3- the deduction u/s. 80IA(10) of the Act taking in consideration of the judgment passed by the Co-ordinate Bench as discussed above. Hence the same is confirmed. Revenue’s appeal is found to be devoid of any merit and thus dismissed.
In the result, Revenue’s appeal is dismissed.
This Order pronounced on 14/02/2023