SYLVAN GREENS PRIVATE LIMITED,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 6, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

801C(ii)(b) since A Y 2010-11 and also claimed for this year also. Copy of Audit Report under section 80IC in form No 10CCB filed by the assessee for the year under consideration is enclosed here with. The Ld AO during the course of Scrutiny assessment proceedings under section 143(3) of the Act, also verify the claim

ACIT, KOTA vs. SHIV AGREVO LTD., BARAN

In the result, appeal of the revenue is partly allowed

801C(8)(ix) and 801E(7)(iii)[as held in case of Nahar Poly Films Ltd. Vs. CIT, Ludhiana 201 Taxman 304 (P&H)]. The word expansion is not different from extension of business and therefore the interest expenditure, on the utilization of borrowed funds for the 10 ACIT, Kota vs. M/s Shiv Agrevo Ltd., Baran acquisition of new assets