4 December, 2017
A Bench of Justice S. Ravindra Bhat and Justice Sanjeev Sachdeva of High Court of Delhi dismissed the appeal filed by income tax department questioning decision of the ITAT in favour of the respondents regarding exemption under section 80(1A) of the Income Tax Act 1961. The following questions of law were framed:
(i) Whether the Tribunal was correct in holding that for purposes of deduction U/s 80 (1A) of the Income Tax Act, 1961, the assessee should be a small scale undertaking on the last day of the previous year relevant to the initial/first assessment year and that the said requirement need not be satisfied in the subsequent assessments?
While passing order the court opined that the merits of the issue is covered by
the common judgment of 20.07.2017 in the other appeals (Commissioner of Income
Tax v. M/s International Tractors Ltd., ITA No.1082/2005 and connected appeals
noticed earlier).
The court said that with respect to permissibility of the deduction under
Section 80-1A, all the appeals by the Revenue, urging common questions with
respect to admissibility of the benefit/deduction under Section 80-1A of the
Act, were dismissed; the questions of law were answered against the Revenue.
While dismissing the appeal filed by Income Tax Department, the Bench decided
question No.1 framed for this appeal is answered against the Revenue and in
favour of the assessee and in the peculiar circumstances of the case, question
No.2 is kept open for the parties to contend.
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