Itxa/424/2015 Of The Commissioner Of Income Tax-5 v. Sanghvi Movers Ltd

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...AppellantV/s.Sanghvi Movers Ltd. ...Respondent ..... Mr.Tejveer Singh, Advocate for the Appellant. .... CORAM :S.V.GANGAPURWALA &A.M.BADAR JJ. DATED :18[th] July 2017. P.C. 1The present Appeal pertains to the Assessment year2009-10. We have heard Mr.Tejveer Singh, the learned counselfor the Appellant. The issue raised is as to which year would bethe first year under Section 80IA(5) of the Income Tax Act. TheCBDT has issued a Circular dated 15[th] February 2016 clarifyingthat initial year of assessment is the first year under Section 80IA.Even this Court has held that initial year of Assessment year is thefirst year to claim deduction under Section 80IA of the Income TaxAct. 2In view of above, no substantial question of law arises.The Appeal is dismissed. No costs. ( A.M.BADAR J.) ( S.V.GANGAPURWALA J.)