Tribunal held that additional income had been assessed in hands of assessee from same nature of business. Hence assessee was eligible to claim deduction u/s. 80IA(4) of the Act . Followed Sheth Developers 25 taxmann.com 173 (Bom)( HC) . (ITA. Nos.142 to 147/PUN/2016 dt.1- 17- 2018) (AY.2007-08 to 2010-11 , 2011-12 , 2012-13 )
ACIT v. Mahalaxmi Infraprojects Ltd. (2018) 63 ITR 671 (Pune)(Trib.)
S. 80IA: Industrial undertaking – Survey- Bogus purchases-Additional income offered as non genuine purchases -Entitle deduction [ S.80IA(4), 133A ,147 ]