INCOME TAX OFFICER Vs. MAA DURGA INDUSTRIES

JUDGEMENT

(1.) THIS is department's appeal for assessment year 2009 -10 against the order dated 06.03.2014 passed by learned CIT(A), Jammu.

(2.) THE ld. Counsel for the assessee has filed an application for adjournment, contending therein that he has not been able to collect necessary information from his client. We, however, find that all necessary information required is on record. The matter can be proceeded with as such. Therefore, the application for adjournment is rejected.

(3.) THE facts are that the assessee firm, for the year under consideration, claimed deduction of Rs. 13,57,481/ - u/s. 80IB of the Income -tax Act in respect of Excise Duty refund. The AO, vide order dated 24.11.2011, rejected this claim as not an allowable deduction. It was observed that similar deduction claimed by the assessee in the two immediately preceding assessment years had also been disallowed. It was also observed that in "Shree Balaji Alloys & others vs. CIT & another", : 333 ITR 335 (J&K), rendered by the Hon'ble jurisdictional High Court, this issue has been decided against the department, but the department, having not accepted the said decision, has filed SLPs before the Hon'ble Supreme Court.