I N T H E I N C O M E T X AP P EL L AT E T R I BU N L D I VI S I O N B EN C H , C H D I G R H BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER ITA No. 563/CHD/2016 Assessment Year: 2012-13 M/s Iskon Remedies, Vs DCIT, Village Ogli, Circle, Nahan Road, Shimla. Kala Amb (HP). PAN: AABFI9476R (Appellant) (Respondent) Appellant by : None Respondent by : Shri Manjit Singh Date of Hearing : 03.10.2016 Date of Pronouncement : 03.10.2016 O R D E R PER BHAVNESH SAINI,JM This appeal by assessee has been directed against order of ld. CIT(Appeals), Shimla dated 29.02.2016 for assessment year 2012-13, challenging order of ld. CIT(Appeals) in confirming disallowance under section 80IC of Income Tax Act in sum of Rs. 46,88,341/-. 2. Briefly facts of case are that assessee filed return of income declaring nil income after claiming deduction of Rs. 62,51,121/- under section 80IC of Income Tax Act. assessee firm is engaged in business of manufacturing of pharma products. 2 assessee firm started its operation on 02.06.2006 and had started claiming deduction under section 80IC of Act from assessment year 2007-08. assessment year under appeal is 6th year in which also assessee claimed deduction under section 80IC of Act @ 100% as against 25% for 6th year. Assessing Officer allowed deduction under section 80IC from 100% to 25% of eligible profit and computed income at Rs. 46,88,341. 3. ld. CIT(Appeals) fund that issue is covered against assessee by order of ITAT Chandigarh Bench in case of M/s Hycron Electricals Vs ITO in ITA 798/CHD/2012 (reported in 41 ITR (Tribunal) CHD 486 and by reproducing order of Tribunal held that assessee is entitled to deduction under section 80IC @ 25% only and dismissed appeal of assessee. 4. None present on behalf of assessee despite service of notice. Ld. DR contended that issue is covered against assessee by order of ITAT Chandigarh Bench in case of M/s Hycron Electricals (supra). 5. Considering facts of case in light of submission of ld. DR, we are of view issue is covered against assessee by order of ITAT Chandigarh Bench in case of M/s Hycron Electricals (supra) in which it was held that assessee is entitled for deduction @ 25% only. Since in this case, Assessing Officer has 3 allowed deduction @ 25% being 6th year and none appeared on behalf of assessee to distinguish facts of case, therefore, issue is covered against assessee by order in case of M/s Hycron Electricals (supra). We, therefore, do not find any merit in appeal of assessee. same is, accordingly, dismissed. 6. In result, appeal of assessee is dismissed. Order pronounced in Open Court. Sd/- Sd/- (ANNAPURNA GUPTA) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 3rd October,2016. Poonam Copy to: 1. Appellant 2. Respondent 3. CIT(A) 4. CIT,DR Assistant Registrar, ITAT/CHD M/s Iskon Remedies v. DCIT, Circle, Shimla