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2016 (1) TMI 1344 - ITAT AHMEDABADExcluding sale proceed of sale tax entitlement from profits derived from its wind mill installed at Ahmadnagar (Maharastra) for the purpose of claiming section 80IA - Held that:- The assessee files a tabulation chart and copy of various tribunal orders in its own case in support of the above stated grounds. The Revenue is fair enough in not disputing correctness thereof. It is to be seen from the case record that a co-ordinate bench in assessee’s own case [2014 (1) TMI 234 - ITAT AHMEDABAD] has remitted the first issue of sales tax sale proceeds back to the Assessing Officer for fresh adjudication. We feel that the instant ground deserves to follow suit in absence of any distinction on facts of law. Thus remitting the issue back to Assessing Officer after considering the scheme sales tax entitlement of the Maharastra Govt. under which the assessee has received its entitlement after taking into consideration of hon’ble jurisdictional high court in case of CIT vs. Birla VXL Ltd (2013 (7) TMI 655 - GUJARAT HIGH COURT) Deduction u/s 80IA - Held that:- It is not in dispute that the initial Assessment Year in the case of Jivraj Tea & Industries Ltd. is the Assessment Year 2004-05 and in the case of Jivraj Tea Ltd. is Assessment Year 2007-08 and it is also not in dispute that the assessee has not suffered any loss in the said year, therefore, in our considered opinion no brought forward loss or depreciation could be reduced for determining the amount in which the deduction is to be allowed u/s. 80IA of the Act. We, therefore, set aside the orders of the lower authorities on this issue and allow the ground of appeal of the assessee. Challenging section 14A disallowance - Held that:- Restrict the impugned disallowance of ₹ 86,223/- to the extent of assessee’s exempt income only
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