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Income Tax Appellate Tribunal, “C” BENCH, CHENNAI
Before: SHRI CHANDRA POOJARI & SHRI V. DURGA RAO
आदेश /O R D E R
PER CHANDRA POOJARI, ACCOUNTANT MEMBER
This appeal by the Revenue is directed against the order of the Commissioner of Income-tax(Appeals) dated 29.12.2014.
- - 2 ITA 457/15
The grievance of the Revenue in this appeal is with regard to granting of deduction under sec.80IA of the I.T. Act, 1961 in respect of profit derived from windmills.
After hearing both the parties, we find that the issue in dispute is squarely covered in favour of the assessee by the judgment of the Jurisdictional High Court in the case of Velayudhaswamy Spinning Mills (P) Ltd. vs. ACIT (340 ITR 477), wherein it was held that the profit derived from windmills is entitled for deduction under sec.80IA of the Act. Respectfully following the above judgment of the Jurisdictional High Court, we are inclined to confirm the order of the Commissioner of Income- tax(Appeals) on this issue. Accordingly, the Revenue’s appeal is dismissed. Order pronounced in the open court at the time of hearing on Tuesday, the 7th of April, 2015 at Chennai.