Held that the Industrial Park Scheme 2002, the approval under S. 80IA(4)(iii) has to be granted only by the Central Government, and the power to withdraw such approval is also granted to the Central Government. Central Government empowered committee having given approval to the assessee and also modified the approval, the issue of notification by the CBDT was merely a ministerial act and thus, the CBDT could not have on its own motion withdrawn the notification. The claim of deduction was allowed. (AY. 2012-13 to 2014-15)
Pantheon Infrastructure (P) Ltd. v. DCIT (2025) 236 TTJ 601 (Mum)(Trib)
S.80IA: Industrial undertakings]-Enterprises engaged in infrastructure development-Industrial park-Withdrawal of approval by CBDT-CBDT could not have on its own motion withdrawn the notification-The communication of Ministry of Commerce which was relied upon by the CBDT for withdrawing the notification has been subsequently clarified by the Ministry of Commerce itself as well as by the High Court-There was no reason for withdrawal of notification-The AO is directed to allow the claim of deduction under S. 80IA(4).[S.80IA(4)(iii), 119]
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