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2014 (1) TMI 862 - AT - Income TaxClaim of deduction u/s 10A of the Act – Held that:- The decision in CIT & Anr. Vs. Yokogawa India Ltd. and Others [2011 (8) TMI 845 - Karnataka High Court ] followed - The assessee is eligible to claim deduction under Section 10A without setting of losses suffered by other units and there is nothing that stops the assessee from claiming set off on the balance profits which remained after the claim of deduction – Decided in favour of Assessee. TDS credit not given – Credit available to amalgamating company- Held that:- Assessing Officer has no way to verify whether the tax credit claimed has been properly made and paid - Assessing Officer has also no way to verify whether the amalgamating company had claimed credit for such amount after filing a tax return – the assessee ought have moved Hon'ble jurisdictional High Court for effective directions in this regard for carrying out the scheme of amalgamation, to the logical conclusion - Assessee having not done that, cannot require the Assessing Officer to give credit for a sum which has not been proved by it as remitted to the Treasury by the deductors – As the matter requires a fresh look by the Assessing Officer the same is remitted back – Decided in favour of Assessee.
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