The Commissioner Of Income Tax-5 v. Sanghvi Movers Ltd.

(16)ITXANo.4242015

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDITION INCOME TAX APPEAL NO.424 OF 2015 The Commissioner of Income-Tax-5 ...

Appellant V/s.

Sanghvi Movers Ltd.

...

Respondent .....

Mr.Tejveer Singh, Advocate for the Appellant. ....

CORAM :

S.V.GANGAPURWALA & A.M.BADAR JJ.

DATED :

18th July 2017.

P.C.

The present Appeal pertains to the Assessment year 2009-10. We have heard Mr.Tejveer Singh, the learned counsel for the Appellant. The issue raised is as to which year would be the first year under Section 80IA(5) of the Income Tax Act. The CBDT has issued a Circular dated 15th February 2016 clarifying that initial year of assessment is the first year under Section 80IA. Even this Court has held that initial year of Assessment year is the first year to claim deduction under Section 80IA of the Income Tax Act.

Gaikwad RD 1/2

(16)ITXANo.4242015 In view of above, no substantial question of law arises. The Appeal is dismissed. No costs.

( A.M.BADAR J.) ( S.V.GANGAPURWALA J.) Gaikwad RD 2/2