being
not allowable for claiming the benefit u/s 10AA of the I.T. Act.
ITA No. 49/JP/2016
Shri Vinit Kumar Bora ... well as on
facts in restricting the deduction claimed u/s 10AA at Rs.
5,56,975/- as against
erred in allowing the deduction of Rs. 56,82,033/-
u/s 10AA of the Income Tax Act, 1961 whereas the conditions laid
down ... claiming the deduction u/s 10AA of the IT Act, 1961 are not
fulfilled.
The appeal craves the indulgence to modify, alter
restricting the exempted income
claimed by the assessee under section 10(10AA) to Rs. 300000.00 on the basis
of erroneous interpretation of statute. Such ... leave
encashment received in full as per provision of section 10(10AA)(ii) . In the
proceeding before CPC the assessee contended that leave encashment
amount
accepting the
contention of assessee to recomputed the deduction u/s 10AA after
considering the trading addition of Rs. 2,80,500/- ignoring the CBDT ... started commercial production from 21.04.2008
and has claimed deduction u/s 10AA of the Act. The assessee originally filed its
return of income
addition of Rs.
4,33,429/- by disallowing exemption u/s 10AA on account of
interest on FDR.
4. Under the facts and circumstances ... Ward- 6(4) ,Jaipur
in restricting the deduction u/s 10AA to Rs. 1,00,64,922/- as
against Rs. 1,06,11,921/- claimed
account of
exemption U/s 10AA of the I.T. Act, 1961. No
manufacturing activities were executed in premises of
the assessee firm situated ... 2006. Therefore, the assessee firm is not entitled
for exemption U/s 10AA of the I.T. Act, 1961 as terms
and conditions
justified while restricting the claim amount to Rs. 300000 u/s 10(10AA) and
rejecting the amount to Rs. 397100.00 out of Rs. 697100.00 which ... being leave encashment received as exempt u/s 10(10AA) of the
Act. However, the AO, CPC while processing the return of income has
allowed
grounds of appeal are inter linked on allowing the deduction under
section 10AA at Rs. 20,82,95,557/- and estimating the GP rate ... respectively. The assessee firm is claiming 100% deduction under section 10AA of the
IT Act being a SEZ Unit. The AO further held as under
directing the Assessing Officer to disallow the claim of deduction u/s.
10AA of the Act.
6. The appellant craves leave to add, alter ... after claiming deduction under section
10AA of the Act. The case was selected for scrutiny under CASS and,
therefore, notice
make
necessary inquiries regarding eligibility & allowability of the deductions u/s. 10AA
of the IT Act, 1961" which is wholly unjustified ... assessee company
claimed deduction of Rs. 3,90,12,873/- u/s. 10AA. The assessment u/s.
143(1) was completed on 05.08.2016 at total
