The Commissioner of Income-tax, Bangalore / The Dy. Commissioner of Income-tax Central Circle-2(1), Bangalore v. Deepak Cables (I) Ltd
|The Commissioner of Income-tax, Bangalore / The Dy. Commissioner of Income-tax Central Circle-2(1), Bangalore
|Deepak Cables (I) Ltd.
|HIGH COURT OF KARNATAKA
|Date of Order
|withdrawal of claim • course of survey • revised return • new unit • income
|The appeal was admitted by a Bench of this Court vide order dated 08.11.2011 on the following substantial questions of law: 1. Whether the Appellate Authorities were correct in not taking into consideration the material detected in the course of survey dated 09-03-2004 3 that the Tumkur unit manufacturing electrical cables had commenced 20 years earlier and it was not a new unit as per section 80IA of the Act, which was confirmed by Mr. Subramanyam, Mr. Venkateshwara Rao in the statement recorded u/s. 131 of the Act and the withdrawal of claim u/s.80IA of the Act by the assessee and consequently recorded a perverse finding 2. Whether the assessee is entitled to claim deduction u/s.80IA of the Act, in respect of old unit situated at Tumkur, manufacturing electrical cables, which claim was not considered by taking into account the entire evidence recorded by the Assessing Officer 3. Whether the finding recorded that the revised return having been withdrawn the assessment order cannot be sustained is correct 3. In view of the aforesaid submission and for the reasons assigned in the order dated 03.06.2014 passed in ITA No.205/2008, the substantial questions of law framed in this appeal are answered in favour of the revenue. In the result, the order passed by the Income Tax Appellate Tribunal is hereby quashed and the order passed by the Assessing Authority is restored.