DCIT Vs Gateway Distriparks Ltd. (ITAT Mumbai)
ITAT Mumbai held that assessee is entitled for deduction under section 80IA(4) of the Income Tax Act on the basis of principle of consistency. Accordingly, appeal of revenue dismissed and order of CIT(A) upheld.
Facts- The assessee is a company engaged in the business of operating, maintaining, Containers Freight Station (CFS) approved by Ministry of Commerce and the Customs Department, Government of India. The assessee filed the return of income for AY 2018-19 on 23.10.2018 declaring a total income of Nil after claiming deductions under Chapter-VIA which includes deduction to the tune of Rs. 13,25,18,676/- u/s. 80IA(4) of the Act. The assessee for AY 2020-21 filed the return on 11.02.2021 declaring Nil income and the deduction claimed u/s. 80IA(4) amounted to Rs. 7,32,86,130/-. AO completed the assessment for both the AYs wherein the AO denied the deduction u/s. 80IA(4) stating that the issue is recurring in nature and that the revenue has filed an appeal before the Hon’ble High Court in this regard. Aggrieved the assessee filed further appeal before the CIT(A). The CIT(A) by placing reliance on the findings of the Co-ordinate Bench in assessee’s own case for AY 2017-18 (ITA No. 38/Viz/2021 dated 14.07.2023).
