The Tax Publishers2020 TaxPub(DT) 4289 (Karn-HC)

INCOME TAX ACT, 1961

Section 80-IA

Only profit making power generating unit of assessee was to be taken into account and not loss making units in computing total income of the assessee for its eligible business to allow deduction under section 80-IA.

Deduction under section 80-IA - Computation - AO aggregated all profit making and loss making units -

Assessee-company engaged in generation of wind energy claimed deduction under section 80-IA. AO held that section 80-IA(1) was applicable to eligible business and all profit making and loss making units were to be aggregated and then deduction under section 80-IA was to be computed. Held: Only profit making power generating unit of assessee was to be taken into account and not loss making units in computing total income of the assessee for its eligible business to allow deduction under section 80-IA.

Relied:CIT & Anr. v. Swarnagiri Wire Insulations (P) Ltd. (2012) 349 ITR 245 (Karn-HC) : 2012 TaxPub(DT) 3178 (Karn-HC).

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2008-09


INCOME TAX ACT, 1961

Section 14A

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