TMI Blog2017 (1) TMI 939X X X X Extracts X X X X X X X X Extracts X X X X ..... of the eligible unit for computing the deduction u/s.10B of the Act - Decided in favour of assesee - ITA No.1476/Mum/2015 - - - Dated:- 18-11-2016 - SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER For The Appellant : Shri C.W. Angolkar (DR) For The Assessee : Shri Vijay Mehta (AR) ORDER PER PAWAN SINGH, JM: 1. This appeal u/s 253 of the Income-tax Act ( Act ) is directed by the Revenue against the order of Commissioner of Income-tax (Appeals) (for short the CIT(A)- 16, Mumbai dated 11.11.2014 for Assessment Year (AY) 2010-11. The Revenue has raised the following Grounds of appeal: 1. On the facts and in the circumstances of the case and in law, the Ld.CIT(A) erred in allowing de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from one ahead is aggregated with the income or loss of the other head in accordance with the provisions of section 71 of the Act. If after giving effect to the provisions of sections 70 and 71 of the Act there is any income (where there is no brought forward loss to be set off in accordance with the provisions of section 72 of the Act) and the same is eligible for deduction in accordance with the provisions of Chapter VI-A or sections 10A, 10B etc. of the Act, the same shall be allowed in computing the total income of the assessee. 4. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in allowing deduction u/s 10A before computing the brought forward business losses and unabsorbed depreciation by pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e jurisdictional High Court and the appeal of the Revenue was dismissed. 4. We have considered the rival contentions of the parties and gone through the decision of authorities below. We find that identical Grounds of appeal was considered by the Hon ble Bombay High Court in Techno Tarp and Polymers Pvt. Ltd.(supra), wherein the following order was passed. 2. Although numerous questions of law have been formulated in the Memo of Appeal, Mr.Suresh Kumar, learned Counsel for the Revenue urges only the following re-framed question of law for our consideration as under:- (i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the brought forward unabsorbed loss/ deprecia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Revenue does not dispute that the question as framed is covered by the decision of this Court in Black Veatch Consulting(P) Ltd. (supra) Ganesh Polychem Ltd. Vs. ITO (supra). However, he submits that the question as framed would require consideration as the contrary view taken by Karnataka High Court in CIT Vs. Himatasingike Seide Ltd., ((2006) 156 Taxman 151 (Kar.)) has now been upheld by the Apex Court in its order dated 19 September 2013 as under:- 1. We have heard the learned Counsel for the parties to the lis. 2. Having perused the records and in view of the facts and circumstances of the case, we are of the opinion that the Civil Appeal being devoid of any merit deserves to be dismissed and is dismissed accordi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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