INCOME TAX ACT, 1961

--Appeal (High Court)--Substantial question of law Scheme of amalgamation sanctioned by the Court--Held: Once the court sanctioned amalgamation, it was not open to revenue to disregard the same unless the same was varied by a competent court.

Income Tax Act, 1961 Section 260A

Income Tax Act, 1961 Section 170

INCOME TAX ACT, 1961

--Deduction under section 80-IA--Profits and gains derived from industrial undertaking Expansion of existing unit vis-a-vis new industrial undertaking--According to Tribunal, Urse II and Pimpri II were independent units eligible for deduction under section 80-IA. Assessing officer contended that the same were only expansion of existing ongoing industrial undertaking and hence, did not qualify for separate deduction. Held: Not rightly so, as the same were covered in assessee's favour by a decision of High Court in the assessee's own case in ITA No. 129 of 2011 rendered on 1-3-2012 wherein it was concluded that where assessee had set-up a separate industrial undertaking investing substantial funds, installing new plant and machinery, capable of producing goods by itself and which resulted in an increase in the capacity of production, it has to be treated as new unit.