JUDGMENT :

(K.R. Shriram, J.)

1. Since pleadings are completed, with the consent of Counsels, we take up the Petition for hearing at the admission stage. Rule. Rule returnable forthwith.

2. Petitioner had filed its return of income for Assessment Year 2014-15 on 29th November 2014. It was processed and intimation under Section 143(1) of the Income Tax Act, 1961 (“the Act”) was issued. Subsequently, Petitioner’s case was selected for scrutiny assessment. Petitioner was called upon to file several details pertaining to Petitioner’s claim for deductions under Section 32AC of the Act. These include details of the installation of the machinery with respect to which a claim for deduction was made. Details of money borrowed, interest paid, etc. was also called for. All details were made available along with Auditor’s Certification for the purpose of calculation of allowance under Section 32AC of the Act.

3. The assessment came to completed by an order dated 17th November 2016 under 143(3) of the Act.

4. An audit objection came to be raised by a letter dated 16th August 2018 on Petitioner’s claim of deduction under Section 32AC of the Act. In reply, the concerned Assistant Commissioner of Incom