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2021 (4) TMI 182 - HC - Income TaxTDS u/s 195 - Disallowance u/s 40(a)(i) - scope of retrospective amendment to the Income Tax Act by Finance Act 2010 to Section 9(1) - Whether the amended explanation to 9(2) relating to the income of the non-resident shall be deemed to accrue or arise in India and shall be included in the total income of the non-resident whether or not he has a resident or place of business or business connection in India or has done services in India? - Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the deduction under Section 80-IA is to be done without setting off losses on optional basis inspite of clear provisions of Section 80-IA stipulating that the said undertaking should be considered as only source of income of the assessee for the purpose of determining eligible profit? - HELD THAT:- As following the ratio laid down by the Hon'ble Division Bench of this Court reported in Fluidtherm Technology (P). Ltd [2015 (4) TMI 191 - MADRAS HIGH COURT] and Commissioner of Income Tax, Salem VS. Chola Spinning Mills (P.) Ltd. [2019 (11) TMI 934 - MADRAS HIGH COURT] the questions of law are decided against the appellant - Revenue and in favour of the respondent – assessee
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