June, 2015 on the issue of allowability of
deduction u/s 35AD of the Act.
2. That the proceedings ... defending that the activity of
the company is fully covered u/s 35AD , which is not permitted
by law.]
2
3. The jurisdiction
observed that the assessee has claimed deduction
u/s. 35AD of the Act and claimed set off of loss ... hotels located at
Chandigarh & Indore. The assessee claimed deduction u/s
35AD of the Act at Rs. 41,86, 00,563/-. The assessee
claimed
learned A O for adding
Rs.20,98,92,952/- under Section 35AD of the Act without
going into the facts and merit ... oresaid claim of deduction u/s 35AD of the
Act. In vie w of this, it cannot be said that it is a
case
learned
A.O. in adding Rs. 44,57,98,668/- under section 35AD of the Income Tax Act, 1961
inspite of complete documents alongwith reason ... made by the A.O. under section
35AD of the Income Tax Act, 1961 (hereinafter referred to as 'Act'). During the
course
huge carried forward losses of Rs. 51,79,33,611/- u/s
35AD available for set off against the current year's income. Therefore ... appellant that since there was sufficient carried forward loss u/s 35AD in
respect of A.Y. 2011-12, there was no requirement of diverting
facts in deleting the disallowance of
Rs. 6,26,69,610/- made 35AD(5)(aa) of the Act. The Ld. CIT(A)
has erred ... fulfilled all conditions which were specified to avail deduction u/s.
35AD of the I.T. Act and finally made disallowance
claim of
depreciation on the hotel and claimed deduction u/s 35AD.
Thereafter during the course of assessment proceedings, the
assessee again sought to withdraw ... claim of deduction u/s
35AD and claimed depreciation as was claimed in the original
return.
6. AO rejected the assessee's claim
entertaining the assessee's claim of deduction u/s
35AD of the Act in the facts and circumstances of the case.
5.1. We have ... report had stated that assessee had not claimed any deduction
u/s 35AD of the Act in the return of income and that the assessee
shows that this loss is on account of
deduction u/s 35AD . The loss in not allowable to be set off. The loss
fact that the claim of the assessee for
deduction under Section 35AD of the Act was not even
appropriately dealt with by the Assessing Officer
