Section 80IA Deduction Restored: ITAT Follows High Court Quashing Approval Withdrawal Order

Finest Promoters (P.) Ltd. Vs ACIT (ITAT Delhi) Once 80IA is Allowed & Approval Restored by High Court, Revenue Cannot U-Turn in Later Years – Consistency Triumphs Over Withdrawal Drama M/s Finest Promoters (P) Ltd developed an Industrial Park approved under the Industrial Park Scheme, 2002, & was duly notified by CBDT, making it eligible for deduction u/s 80IA. The deduction was allowed in AYs 2008-09 & 2009-10 in scrutiny assessments after full verification. However, in AY 2010-11 & later years,   AO disallowed the claim solely because the Central Government withdrew the ...