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| The Tax Publishers2019 TaxPub(DT) 0936 (Bom-HC) : (2019) 412 ITR 0041 INCOME TAX ACT, 1961
Section 260A read with Section 80-IB
Since it is settled law that the duty of AO is to apply the law in the given facts regardless of the position of Revenue or the assessee in the course of proceedings; therefore, no substantial question of law arose for consideration.
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Appeal (High Court) - No substantial question of law - Maintainability -
Assessee-private company was engaged in manufacture and trade of electronic and electrical equipments and goods and claimed deduction under section 80-IB. Reassessment proceedings were initiated against assessee on the ground that assessee commenced its production on 15-3-1997, i.e., after the sunset date of 31-3-1995. Further, assessee was not a small scale undertaking, within the meaning of that expression, in terms of Ministry of Industry's DIPP order dated 10-12-1997, with regard to audit report. Held: It is far too well settled that the duty of AO is to apply the law in the given facts regardless of the position of Revenue or the assessee in the course of proceedings; therefore, no substantial question of law arose for consideration.
REFERRED : Kedarnath Jute Manufacturing Company Ltd. v. CIT (1971) 82 ITR 363 (SC): 1971 TaxPub(DT) 0366 (SC)
FAVOUR : In assessee's favour
A.Y. :
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