The Assistant Commissioner of Income Tax, Non-Corporate Circle-4, Coimbatore v. Marappakavundar Kandasamy
[Citation -2016-LL-1006-27]
| Citation | 2016-LL-1006-27 |
|---|---|
| Appellant Name | The Assistant Commissioner of Income Tax, Non-Corporate Circle-4, Coimbatore |
| Respondent Name | Marappakavundar Kandasamy |
| Court | ITAT-Chennai |
| Relevant Act | Income-tax |
| Date of Order | 06/10/2016 |
| Assessment Year | 2012-13 |
| Judgment | View Judgment |
| Bot Summary: | The Revenue has raised several grounds in its appeal the crux of the issue is as follows:- The learned Commissioner of Income Tax has erred in allowing the claim of deduction under section 80IA of the Act for 2 ITA No.2091 /Mds/2016 Rs.1,07,18,597/- by following the decision of the Hon ble jurisdictional High Court in the case of Sri Velayuthasamy Spinning Mills P.Ltd. During the course of assessment proceedings, it was noticed by the learned Assessing Officer that the assessee has claimed deduction of Rs.1,07,18,597/- under section 80IA of the Act towards the income generated from windmill relying in the decision of the Hon ble jurisdictional High Court in the case of Sri Velayudhasamy Spinning Mills Pvt.Ltd. reported 231 CTR 368. On appeal, the learned Commissioner of Income Tax allowed the deduction of Rs.1,07,18,597/- claimed by the assessee under section 80IA of the Act in view of the binding decision of the jurisdictional High Court in the case of CIT Vs.Sri Velayuthasamy Spinning Mils Ltd. cited supra. The learned Departmental Representative argued in support of the order of the learned Assessing Officer while as the learned Authorized Representative argued in support of the order of the learned Commissioner of Income Tax and relied on the decision of the Hon ble jurisdictional Madras High Court in the case of Sri Velayudhasamy Spinning Mills Ltd. cited supra. From the facts of the case, we are of the considered view that the learned Commissioner of Income Tax has rightly followed the decision of 4 ITA No.2091 /Mds/2016 the Hon ble jurisdictional High Court in the case of Sri Velayudhaswamy Spinning Mills Pvt.Ltd. cited supra and thereby allowed the claim of the assessee under section 80IA of the Act. Since the learned Commissioner of Income Tax has rightly followed the decision of the Hon ble Jurisdictional Madras High Court(supra) and held the issue in favour of the assessee, we do not find it necessary to interfere with the orders of the learned Commissioner of Income Tax. Therefore we hereby confirm the orders of the learned Commissioner of Income Tax. |