rajkot bench of ITAT has decided issue in favour of assessee in m/s tarmet bel (jv ) kcl by order dt. 23/9/10.
r.k.patel,advocate
Can you pls post the details of order or copy of order. As this issue is covered against the assessee by larger bench order, it will be interesting. In addition to this, identical matter is pending before Hon. Bombay High Court; the hearing of which is scheduled on 18th Oct. 2010
http://itatonline.org/archives/index.php/b-t-patil-sons-vs-acit-itat-mumbai-larger-bench
larger bench decision of b.t. patil by mumbai itat is distinguished by rajkot bench.
i have also challenged vires of amending explanation w.r.e. in s.80IA 4 as well as s.80IB 10
writs of my clients are admitted by gujarat high court. recovery is stayed by way of interim relief.
final hearing is awaited.
i have read paper copy of rajkot tribunal decision. if same is uploaded on website, i shall check and
attach in this thread.
r.k.patel